May 27, 2017 - 12:00 AM EDT
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Corporate Update

(via 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.


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.


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.


Copyright (c) 2017 TheNewswire - All rights reserved.

Source: TheNewsWire (May 27, 2017 - 12:00 AM EDT)

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