Highbank Resources Ltd. (TSXV:HBK,FWB:V7O) plans to arrange a non-brokered private placement to raise up to $560,000 and will issue up to seven million units at $0.08 per unit.
As quoted in the press release:
The Company will be issuing up to 7.0 million units at $0.08 per unit. Each unit will consist of one common share and one two year transferable share purchase warrant. Each full warrant will entitle the holder to purchase one additional common share of the Company for a period of two years at a price of $0.15 per share.