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Corporate Update

November 17, 2017 – On November 8, 2017, Halio Energy Inc. (“Halio” or the “Company”) (TSXV – HOIL) received a notice from Trendwell West Inc (“Trendwell” or “Farmors”) in which Trendwell asserts that the Company is in breach of its existing farmout agreement with Trendwell on the grounds that the Company has failed to timely discharge certain financial obligations relating to lease maintenance payments made by Farmors. The notice of breach requests a payment of $51,293.75. Should Halio fail to satisfactorily cure this breach or otherwise resolve Trendwell’s concerns, the remedies available to the Farmors under the farmout agreement include the right to terminate the agreement.
The Company continues to work diligently with financiers to secure the funding to cure this breach and to secure sufficient funds to discharge its other financial obligations under the farmout agreement.
The Company continues to evaluate other projects to maximize shareholder value.

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Corporate Update

November 1, 2017 – Halio Energy Inc. (“Halio Energy” or the “Company”) (TSXV – HOIL) has received an advance from Halio Holdings International Inc, (“Halio Holdings”) of $32,750.00 USD. The proceeds of the advance have been used to pay in full past due and outstanding obligations under the Farm-in Agreement between Halio Energy and Trendwell West Inc. With the payment of the past due obligations under the Farm-in agreement, the Farm-in Agreement is deemed to be current as of this date and all defaults are deemed to have been cured.
Halio Energy is currently in discussions with a number of groups in order to obtain additional funding to satisfy current and future financial obligations relating to the Company’s obligations under the aforementioned Farm-in agreement, current operating costs and expenses and funds to pay principle and interest relating to the aforementioned mentioned Loan Agreement & Demand Promissory Note, as well as additional financing to develop the farm-in acreage specified in the Farm-in agreement. Halio Energy, presently, has no revenue sources. Repayment of the loan referenced above on the specified maturity date, is, at this time, entirely dependent on the successful results of future capital raise efforts.
The Company continues to evaluate other projects to maximize shareholder value.