PINL:HLOSF - Post by User
Post by
sweenbyon Oct 01, 2010 11:51am
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Post# 17517788
Increase
IncreaseHALO ANNOUNCES INCREASED FINANCING
Halo Resources Ltd. has agreed to increase the size of the non-brokered private placement previously announced in Stockwatch on Sept. 29, 2010, due to increased demand and the potential for an accelerated drill program at its West Red Lake project in Ontario. The private placement will now consist of up to 1.8 million units, for total gross proceeds of up to $450,000. The terms of the units remain unchanged, at a price of 25 cents per unit. Each unit comprises one common share of the company and one common share purchase warrant. Each warrant is exercisable to acquire one additional common share of the company for two years at a price of 35 cents per share. Proceeds from the private placement will be used for exploration of the company's properties. A finder's fee is payable on a portion of this placement.
The completion of the financing is subject to receipt of all applicable regulatory approvals and consents, including the approval of the TSX Venture Exchange.
We seek Safe Harbor.