(TheNewswire)
Vancouver, BC / TheNewswire / May 26, 2017 – Halio
Energy Inc. (“Halio” or the “Company”) (TSXV – HOIL) the Company has received a breach notice from Trendwell West Inc
(“Trendwell”) for the payment of the sum of $171,205.44 USD. This amount reflects the reimbursement of lease payments made by
Trendwell, and relates to the licences held under an agreement the Company entered into with Trendwell and
previously announced on October 25, 2016 (the “ Farmout Agreement ”). The Farmout
Agreement covers the properties in the Western Idaho Basin. The Company disputes the amount of the breach and will work diligently
with Trendwell to resolve this matter. If the amount claimed of the breach is not paid by July 23, 2017, the Company shall be
deemed to be in default and could lose its right to earn an interest in licenses held under the Farmout Agreement.
The Company continues to work diligently with financiers to secure $6 million USD to develop the
farmout acreage in the Western Idaho Basin.
The Company continues to evaluate other projects to maximize shareholder value.
ABOUT HALIO ENERGY:
Halio Energy Inc. (TSX-V: HOIL) plans to invest in North Sea, North and
South American-based oil and gas upstream and producing properties, and intends to procure direct working interests on a
non-operated basis as well as limited partnership, joint venture, and MLP interests. Our proposed acquire-and-exploit strategy is
focused on properties that show significant opportunities for future scalability, growth and consolidation, targeting assets that
provide long-life, high-quality production with relatively predictable decline curves, as well as low-risk development
opportunities.
ON BEHALF OF THE BOARD OF DIRECTORS
OF HALIO ENERGY INC.
Per: Charles Ross, CFO, Director
For further information, please contact :
Halio Energy Inc.
Telephone: 604-638-5817
This press release contains forward‐looking information that involve various risks and uncertainties regarding
future events. Such forward‐looking information can include without limitation statements based on current expectations involving a
number of risks and uncertainties and are not guarantees of future performance of the Company, such as statements that the Company
intends to: (i) negotiate and enter into the Definitive Agreement; (ii) invest in conventional and unconventional oil and gas
upstream and producing properties; and (iii) procure direct working interests on a non-operated basis as well as limited
partnership, joint venture and MLP interests. There are numerous risks and uncertainties that could cause actual results and the
Company’s plans and objectives to differ materially from those expressed in the forward‐looking information, including: (i) adverse
market conditions; (ii) risks inherent in the oil and gas industry in general; (iii) the inability of the Company to finance its
growth; or (iv) the inability to identify and acquire suitable property interests. Actual results and future events could differ
materially from those anticipated in such information. These and all subsequent written and oral forward‐looking information are
based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this
notice. Except as required by law, the Company does not intend to update these forward‐looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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