Highbank Resources arranges $50,000 loan

Welcome To The Highbank Resources Ltd. HUB On AGORACOM

Highbank Resources – Advanced Aggregate Gravel Exploration in Canada "Digging into our Past to bring Prosperity to YOUR Future"

Reply New Message

Prev Message Back To Forum Threaded View Next Message

RockLicker

Rank: President [?]

Points: 101894 [?]

Votes: 328 Score: 3.9 [?]

Your Vote:

Please Log In to Vote

Did you know? You can earn activity points by filling your profile with information about yourself (what city you live in, your favorite team, blogs etc.)

Highbank Resources arranges $50,000 loan

posted on Jun 07, 2018 05:49PM

2018-06-04 17:04 ET - News Release

Mr. Gary Musil reports

HIGHBANK COMPLETES LOAN AGREEMENT

Highbank Resources Ltd. has arranged a demand loan for $50,000 from a related party/director.

The company was unable to engage previous and other lenders at this time, and it is imperative that the company keeps its Swamp Point North site with 24-hour-a-day/seven-day-a-week security for insurance liability purposes, including preventing theft and property damage, and to keep its mine permits in good standing (monitoring erosion control systems). Problems are reported and dealt with as soon as possible.

The loan bears interest at 1 per cent per month. In consideration for the loans, the company has also agreed to issue 200,000 bonus common shares at a deemed price of five cents per share. The loan and the issuance of bonus shares are subject to regulatory approval and, pursuant to the agreements, will be subject to a four-month-plus-one-day hold period from the date of issuance.