• stock price
cover pic

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.