Highbank Resources Ltd. (TSXV:HBK,FWB:V7O) announced the completion of the first tranche of the non-brokered private placement. The private placement consists of 4,737,500 units at $0.08 a unit, for total proceeds of $379,000.
As quoted in the press release:
Each unit consists 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.