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Corporate Update

December 11, 2017 – On December 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 $6,964.55. 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.
On December 8, 2017, Joseph Casabona resigned his positions of Chairman of the Board of Directors, Director, President and CEO of Company for health reasons. He has advised the board the he will continue to be available to assist the Company to facilitate its development. The Board wants to extend our sincere gratitude to Mr. Casabona for his guidance and support and for his willingness to continue to be of assistance in the future development of the Company.
Miodrag Andric, a Director of the Company, will replace Joseph Casabona as the interim President and CEO. The Company’s shares were halted on December 4, 2017 for failure to file its audit financials on time. Management is endeavouring to file it financials so that it can so that it can resume trading.
The Company continues to evaluate other projects to maximize shareholder value.

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Loan Agreement Status

December 4, 2017 – On July 17, 2017, Halio Energy Inc. (“Halio Energy” or the “Company”) (TSXV – HOIL) entered into a Loan Agreement and Demand Promissory Note with Halio Holdings International, Inc. (“International”) in the amount of $171,205.44 USD, The Loan Agreement and Promissory Note matured on October 30, 2017. The Promissory Note also provides for additional future advances to Halio Energy, subject to the terms and provisions of the aforementioned Agreements, which advances may be made solely at the discretion of International and provides for modification of the due date. The note bears interest at 8% percent per year payable annually in arrears. As security for the Loan, Halio Energy pledged the Farm-in agreement between Halio Energy and Trendwell West Inc.
Subsequent to the initial advance International has advanced an additional $ 33,544.56 USD or a total of $204,750 USD and $16,000 CDN. The last advance was made on October 31, 2017.
While Halio Energy is in default for repayment of the loan Halio Holdings, has not called the loan. Halio Energy is in the process of seeking revision of the due date to permit additional and a more favourable due date. Failure to achieve such modification could result in a International’s foreclosure, In addition, failure to achieve said due date extension revision could materially and adversely impact Halio Energy’s ability to attract the financing to fund it’s obligations under the Trendwell Farm-in Agreement. However, Halio Energy cannot give assurance that such revisions will be agreed to by International. Halio Energy currently no sources of revenue or access to cash.
Halio Energy is currently in discussions with a number of groups in order to obtain sufficient 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 the 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.

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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.

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Corporate Update

September 8, 2017 – On September 5, 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 $32,731.44. 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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Non-brokered Private Placement

September 1, 2017 – Halio Energy Inc. (“Halio” or the “Company”) (TSXV – HOIL) is pleased to announce that it has completed a non-brokered private placement (the “Financing”) of 25,000 Common Shares (the “Shares”) at a price of $1.20 per share for gross proceeds of $30,000. The securities issued in the Financing are subject to a restricted period which expires on December 30, 2017. Proceeds from the financing are intended to be used for general working capital purposes.

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Non-brokered Private Placement

August 29, 2017 – Halio Energy Inc. (“Halio” or the “Company”) (TSXV – HOIL) is pleased to announce that it has arranged, subject to regulatory approval, a non-brokered private placement (the “Offering”) of 25,000 Common Shares (the “Shares”) at a price of $1.20 per share for a gross proceeds of $30,000.
Closing of the Offering is subject to the receipt of all necessary corporate and regulatory approvals, including the TSX Venture Exchange. Proceeds from the Offering will be used by the Company for general working capital. All securities issued in connection with the Offering will be subject to a statutory hold period of four months plus one day from the date of completion of the Offering, in accordance with the applicable securities legislation.

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Loan Agreement

August 25, 2017 – On July 17, 2017, Halio Energy Inc. (“Halio Energy” or the “Company”) (TSXV – HOIL) entered into a Loan Agreement and Demand Promissory Note with Halio Holdings International, Inc. (“Halio Holdings”) in the amount of $171,205.44 USD, The Loan Agreement and Promissory Note mature on October 30, 2017. The Promissory Note also provides for additional future advances to Halio Energy, subject to the terms and provisions of the aforementioned Agreements, which advances may be made solely at the discretion of Halio Holdings. The note bears interest at 8% percent per year payable annually in arrears. As security for the Loan, Halio Energy pledged the Farm-in agreement between Halio Energy and Trendwell West Inc. On July 17, 2017, proceeds from the Loan Agreement totalling $171,205.44 were utilized to pay, in full and complete remediation, the past due and outstanding financial obligations owed by the Company under the Farm-in Agreement. 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 Holdings will not receive bonus shares for the loan.
Halio Holdings is domiciled in British Columbia, 600-1090 West Georgia Street, Vancouver, BC, V6E 3V7, Canada.
Halio Holdings does not own any shares of Halio Energy. Halio Capital Inc owns a controlling interest in Halio Energy. Miodrag Andric, a director and officer of Halio Energy is also a director and minority shareholder of Halio Holdings and minority shareholder of Halio Capital Inc. Sak Narwal, a consultant of Halio Energy is also an officer, director and minority shareholder of Halio Holdings. and a minority shareholder of Halio Capital.
Halio Energy is currently in discussions with a number of groups in order to obtain sufficient 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 the 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.