is pleased to announce that Everton Resources Inc. (“Everton”) hascompeted the acquisition of Hays Lake Gold Inc. (“HLG”), a private company, that holds on option granted
by Halo on the Duport Gold Property (as described in the press release of July 14, 2009). Under the terms
of the share purchase agreements with HLG shareholders, Halo will be issued 1,006,104 common shares of
Everton.
Halo granted HLG an option to earn up to a 75% in the Duport Gold Property (as described in the press
release of October 15, 2008). To fully earn its interest HLG must make various cash payments and fund up
to $5,000,000 of exploration expenditures by October 31, 2012. HLG can earn 51% by funding $1,500,000
of exploration expenditures by May 1, 2010 and can earn an additional 24% by funding additional
exploration expenditures of $3,500,000 by October 31, 2012.
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I also spoke to Michael who is IR of Halo a few days ago, He says company is working with communities closely..... let market understand Halo's value and story.... anyway,, Current tading activity (price and volume) is due to liquidity issue as too many institutions are holding about 65-75% shares,, Sherridon VMS is core asset for HLO at this time...with Hudbay's earn in finance ongoing ,,,,, Hlo is unlikely need more PP in near term.... .Such good sign for current shareholders.
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Trading and Price:
HLO is one of my juniors in porfolio since 2008, others did VERY VERY well from their bottoms.... I don't know how HLO.V works out in the near future,, one thing for sure was too many PPs killed us in the past ...
SP is NOT important Market Cap is.... As 8.5M market cap today with approved VMS and potential positive NR on Red Lake in coming weeks, I am OK and even bought more at this level on Friday 9th April 2010 ..... Put your buy orders in at 0.05... 0.045... 0.04... 0.035.... 0.005.. you will be rewarded big time as long as you believe HLO could not be delisted from market... If you did, I am sure you will find bottom....
I still clearly remember months ago,, There was company ...CUX.V (Copper Mesa) ...... were trading at 6 - 9 cents/share before delisting with similar Market Cap as HLO today.... One Article says AIG has -36$/share valuation trading at +36$/share.....
All in all, if we think HLO is absolute safe at 0.05/share with Market Cap 8.5Million.. Hold it... YOU WILL BE REWARDED if you are lucky with THESE NEW DIRECTORS and Traders!!!
GLTA