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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.