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Message: Halo Resources reprices units under offering

Halo Resources reprices units under offering

posted on Apr 28, 2008 09:51AM
Halo Resources reprices units under offering

2008-04-28 10:17 ET - News Release

Ms. Lynda Bloom reports

HALO RESOURCES LTD. ANNOUNCES SIZE AND RE-PRICING OF OFFERING OF UNITS AND FLOW-THROUGH COMMON SHARES

Halo Resources Ltd., further to its news release in Stockwatch on April 18, 2008, on the pricing of units and flow-through common shares in connection with a best-efforts equity financing of units and flow-through shares, has repriced the units from 25 cents to 23.5 cents per unit. Each unit comprises one common share and one-half of one common share purchase warrant, with each whole warrant being exercisable to acquire one common share of Halo for a period of 18 months after the date of issuance at a price of 30 cents per share. Halo intends to issue and sell up to 4,255,320 units and up to 16 million flow-through shares for gross proceeds of up to $5-million. The offering is being conducted by Versant Partners Inc. and Canaccord Capital Corp.

Halo will use the net proceeds of the offering for exploration of its Sherridon volcanic massive sulphide (VMS) mineral property in Manitoba, its West Red Lake property in Ontario, for holding costs at its Duport property in Ontario and for general corporate purposes.

Closing of the offering is expected to occur on or about May 6, 2008, and is subject to certain conditions, including, but not limited to, receipt of all necessary securities regulatory approvals, including the approval of the TSX Venture Exchange.

We seek Safe Harbor.
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