Goldbank Mining Corporation (“Goldbank”)(TSX.V-GLB) announces that its private placement announced October 28, 2016 has been increased to $400,000 comprised of 8,000,000 units at $0.05 per unit. Each unit consists of one common share and one four-year transferable warrant entitling the holder to purchase one additional share at a price of $0.06 per share. Blizzard Finance Corp., an unlisted British Columbia reporting company with a common director, is participating in the financing as approved by independent directors. Goldbank is relying on an exemption from the related party requirements of MI 61-101. A portion of the financing is on a flow-through basis. Units will entitle holders to receive the tax benefits applicable to flow-through shares in accordance with provisions of the Income Tax Act (Canada). Proceeds of the financing will be used for working capital and for exploration of Goldbank’s properties. The financing is subject to acceptance for filing by the TSX Venture Exchange and to the acceptance for filing by the TSX Venture Exchange of the previously announced secured convertible promissory note.
Goldbank Mining Corporation is a Canadian exploration company actively exploring for gold in the Klondike Goldfields near Dawson City, Yukon, Canada.
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GOLDBANK MINING CORPORATION
PER: “James Boyce” Suite 702 – 889 West Pender Street
Vancouver, BC CANADA V6C 3B2
JAMES BOYCE Telephone: 604.683.3288
President & CEO Toll Free: 1.888.880.2288
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release. Cautionary Note to US Investors: This news release may contain information about adjacent properties on which we have no right to explore or mine. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.