I think this play at 5 cents is going to be a winner by the end of the year. Within the last month Halo has finished sampling its Red Lake program and filled a full PP with Goldcorp. Add two and two together and you have yourself a winning play. Stocks been sideways for a while now but last week two walls were taken down. Are we ready to move up now?
Halo completes $130,000 private placement
2009-09-17 14:10 MT - SMF Withdrawn
Ms. Lynda Bloom reports
HALO ANNOUNCES CLOSING OF PRIVATE PLACEMENT
Halo Resources Ltd. has closed its non-brokered private placement, previously announced in Stockwatch on Sept. 8, 2009, by issuing to Goldcorp Inc. 2.6 million units of the company at five cents per unit for gross proceeds of $130,000. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles Goldcorp to purchase one common share of Halo for two years after closing, at an exercise price of 7.5 cents per share in the first year and, thereafter, at a price of 10 cents per share in the second year.
The proceeds of the private placement will be used for the exploration of Halo's mineral properties in Ontario.
The securities issued in connection with the private placement are subject to hold periods expiring four months from the date of issuance, being Jan. 11, 2010.
We seek Safe Harbor.
AND
Halo completes sampling at West Red Lake
2009-09-29 07:30 MT - News Release
Ms. Lynda Bloom reports
HALO PROVIDES EXPLORATION AND CORPORATE UPDATE
Field crews have recently completed six weeks of intense geological mapping, prospecting and sampling on Halo Resources Ltd.'s West Red Lake gold property. Much of the work was concentrated on the Bridget Lake North showing to finalize winter drill targets. The showing is part of the Red Lake gold partnership property, a wholly owned subsidiary of Goldcorp Inc.
Assays are pending for over 300 channel samples collected on the Red Lake gold partnership property, as well as adjoining claims held under option with Tribute Minerals Inc. and Rubicon Minerals Corp.
Halo has entered into a non-binding letter of intent regarding an option and potential joint venture with an arm's-length third party to explore and potentially exploit a portion of the Sherridon copper-zinc VMS property in Manitoba. The mineral claims are held 100 per cent by Halo and represent an area less than 5 per cent of the total landholdings under Halo's control. Subject to satisfactory due diligence, definitive agreements are anticipated within 60 days.
Halo has also entered into an agreement with Loewen, Ondaatje, McCutcheon Ltd. to raise a total of $2-million, including up to $1-million through the issuance of common shares of the company which qualify as flow-through shares, at a price of five cents per flow-through share, and through issuance of units of the company at a price of five cents per unit. Each unit consisting of one common share of the company and one common share purchase warrant. Each whole warrant entitling the holder to purchase one common share of the company for two years after closing of the private placement, at an exercise price of 7.5 cents per share in the first year and, thereafter, at a price of 10 cents per share in the second year. The size of the private placement, with the approval of the company, may be increased by 20 per cent.
The company will pay the agent a cash commission equal to 7 per cent of the proceeds from the sale of the flow-through shares and units. In addition, the agent will receive compensation warrants equal to 7 per cent of the number of securities sold under the private placement, with each of the agent's compensation warrant entitling the holder to acquire one unit and/or one flow-through share of the company at the issue price offered under the private placement, for a period of 24 months following the closing date. All securities issued in connection with the private placement will be subject to a minimum four-month hold period.
The funds from the private placement will be used for exploration on the company's properties and for general corporate purposes.
The private placement is scheduled to close by Oct. 15, 2009, or by such other date to be agreed to by the company and the agent and is subject to the approval of the TSX Venture Exchange.
We seek Safe Harbor.
