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20.05.2009
Halo Provides Corporate Update
Halo Provides Corporate Update
Toronto, Ontario, May 19, 2009 -- Lynda Bloom, President and CEO of Halo Resources Ltd. (TSX.V:HLO; FSE:HRL) (“Halo” or “the Company”) is pleased to provide an update on corporate and exploration activities.
Corporate activities have included exercise of the Dunlop Earn-In agreements (see press release May 1, 2009) and amendments to the Hudson Bay Mining and Smelting Co. Limited and Hudson Bay Exploration and Development Company Limited joint venture agreements (see press release April 2, 2009).
Exploration activities at the Sherridon VMS Property, Manitoba, have resulted in major breakthroughs in predicting ore placement on a district-scale. Halo controls 200 sq. km. and has concentrated initially on outlining the Cold, Bob and Jungle deposits as well as the newly discovered Lost deposit. Numerous other exploration targets have been identified with plans to carry out field mapping, ground geophysics and till sampling in the upcoming field season. Water sampling, for the purpose of permitting, continues in order to prevent delays in acquiring sufficient data for regulatory purposes.
The Company is currently considering a variety of opportunities to move the Sherridon VMS Project forward, ranging from business combinations, direct shipping of near-surface copper-zinc ore and/or further exploration of the Sherridon VMS Property to develop sufficient resources for an on-site treatment plant.
Similarly, a review of exploration data for West Red Lake, has resulted in a new geological model for the district where Halo controls over 3-kilometres of prospective strike length, hosting numerous gold and copper showings. A summer field program is anticipated to focus on extension of the gold zone at Bridget Lake discovered in late 2009 (see press release April 1, 2009).
The annual general meeting will be held Thursday, May 21st at the Prospectors and Developers Association boardroom (135 King St. E., Toronto, Ontario) at 4:00 pm EST. Shareholders and financiers are encouraged to attend for a more detailed update on the company’s mineral exploration activities and an opportunity to speak with company management.
Halo also announces a non-brokered private placement of up to 7,000,000 flow through shares (“FT Shares”) at a price of $0.05 per FT Share, and up to 3,000,000 non-flow through units (“Non FT Unit”) at a price of $0.05 per Non-FT Unit, for total gross proceeds of up to $500,000. Each FT Share will consist of one flow through common share. Each Non FT Unit will consist of one common share and one share purchase warrant (“$0.075 Warrant”). Each full $0.075 Warrant entitles the holder to acquire one common share for a period of twenty-four months (“Expiry Time”), at a price of $0.075 per share. A finders 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.
The proceeds of the financing will be used for the exploration of the Company's mineral properties in Canada and for general corporate purposes.
For further information, please contact:
Lynda Bloom, President and CEO or Marc Cernovitch, Chairman
Halo Resources Ltd.
Tel: 416-368-7045 Fax: 416-368-9805
lbloom@halores.com
“Neither 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."
Except for statements of historical fact contained herein, the information in this press release constitutes "forward-looking information" within the meaning of Canadian securities law. Other than statements of historical fact, all statements are "Forward-Looking Statements" that involve such various known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove accurate. Results and future events could differ materially from those anticipated in such statements. Readers of this press release are cautioned not to place undue reliance on these "Forward-Looking Statements". Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.
NEWSLETTER REGISTRIERUNG:
Aktuelle Pressemeldungen dieses Unternehmens direkt in Ihr Postfach:
http://www.irw-press.com/alert_subscription.php?lang=en&isin=CA40637D1087
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Toronto, Ontario, May 19, 2009 -- Lynda Bloom, President and CEO of Halo Resources Ltd. (TSX.V:HLO; FSE:HRL) (“Halo” or “the Company”) is pleased to provide an update on corporate and exploration activities.
Corporate activities have included exercise of the Dunlop Earn-In agreements (see press release May 1, 2009) and amendments to the Hudson Bay Mining and Smelting Co. Limited and Hudson Bay Exploration and Development Company Limited joint venture agreements (see press release April 2, 2009).
Exploration activities at the Sherridon VMS Property, Manitoba, have resulted in major breakthroughs in predicting ore placement on a district-scale. Halo controls 200 sq. km. and has concentrated initially on outlining the Cold, Bob and Jungle deposits as well as the newly discovered Lost deposit. Numerous other exploration targets have been identified with plans to carry out field mapping, ground geophysics and till sampling in the upcoming field season. Water sampling, for the purpose of permitting, continues in order to prevent delays in acquiring sufficient data for regulatory purposes.
The Company is currently considering a variety of opportunities to move the Sherridon VMS Project forward, ranging from business combinations, direct shipping of near-surface copper-zinc ore and/or further exploration of the Sherridon VMS Property to develop sufficient resources for an on-site treatment plant.
Similarly, a review of exploration data for West Red Lake, has resulted in a new geological model for the district where Halo controls over 3-kilometres of prospective strike length, hosting numerous gold and copper showings. A summer field program is anticipated to focus on extension of the gold zone at Bridget Lake discovered in late 2009 (see press release April 1, 2009).
The annual general meeting will be held Thursday, May 21st at the Prospectors and Developers Association boardroom (135 King St. E., Toronto, Ontario) at 4:00 pm EST. Shareholders and financiers are encouraged to attend for a more detailed update on the company’s mineral exploration activities and an opportunity to speak with company management.
Halo also announces a non-brokered private placement of up to 7,000,000 flow through shares (“FT Shares”) at a price of $0.05 per FT Share, and up to 3,000,000 non-flow through units (“Non FT Unit”) at a price of $0.05 per Non-FT Unit, for total gross proceeds of up to $500,000. Each FT Share will consist of one flow through common share. Each Non FT Unit will consist of one common share and one share purchase warrant (“$0.075 Warrant”). Each full $0.075 Warrant entitles the holder to acquire one common share for a period of twenty-four months (“Expiry Time”), at a price of $0.075 per share. A finders 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.
The proceeds of the financing will be used for the exploration of the Company's mineral properties in Canada and for general corporate purposes.
For further information, please contact:
Lynda Bloom, President and CEO or Marc Cernovitch, Chairman
Halo Resources Ltd.
Tel: 416-368-7045 Fax: 416-368-9805
lbloom@halores.com
“Neither 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."
Except for statements of historical fact contained herein, the information in this press release constitutes "forward-looking information" within the meaning of Canadian securities law. Other than statements of historical fact, all statements are "Forward-Looking Statements" that involve such various known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove accurate. Results and future events could differ materially from those anticipated in such statements. Readers of this press release are cautioned not to place undue reliance on these "Forward-Looking Statements". Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.
NEWSLETTER REGISTRIERUNG:
Aktuelle Pressemeldungen dieses Unternehmens direkt in Ihr Postfach:
http://www.irw-press.com/alert_subscription.php?lang=en&isin=CA40637D1087
Mitteilung übermittelt durch IRW-Press.com. Für den Inhalt ist der Aussender
verantwortlich.
Kostenloser Abdruck mit Quellenangabe erlaubt.