SOURCE: Greatbanks Resources Ltd.

Greatbanks Resources Ltd.

March 22, 2016 10:07 ET

Greatbanks Resources Announces Revocation of Cease Trade Order and Transfer to NEX

TORONTO, ON--(Marketwired - March 22, 2016) - Greatbanks Resources Ltd. ("Greatbanks" or the "Company") (NEX BOARD: GTB.H) announces that on March 21, 2016 the British Columbia Securities Commission revoked the cease trade order issued against the Company on December 11, 2015 (the "Cease Trade Order"). The Cease Trade Order was issued as a result of the Company's failure to file its annual audited financial statements and management's discussion and analysis for the year ended July 31, 2015, which were filed on March 18, 2016. 

Greatbanks also announces that it has been advised by the TSX Venture Exchange (the "TSXV") that it has been unable to satisfy the Continued Listing Requirements in accordance with TSXV Policy 2.5 -- Continued Listing Requirements, to maintain its listing as a Tier 2 Issuer. As a result, the securities of the Company were transferred to the NEX Board effective March 21, 2016 and remain suspended for trading. The Company has filed the outstanding necessary documents with the TSXV and expects to resume trading shortly.

About Greatbanks Resources Ltd.

Greatbanks Resources Ltd. is a Toronto, Canada based mineral exploration company focused on identifying producing assets and near term production opportunities.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. 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.

ON BEHALF OF THE BOARD OF DIRECTORS

"Andrew Male"

President and Chief Executive Officer

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