UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of NOVEMBER, 2006.
Commission File Number: 0-30196
HALO RESOURCES LTD
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(Translation of registrant's name into English)
#1305 - 1090 West Georgia Street, Vancouver, British Columbia, V6E 3V7, Canada
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(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports
under cover of Form 20-F or Form 40-F: FORM 20-F [X] FORM 40-F [ ]
Indicate by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(1): _______
Indicate by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(7): _______
Indicate by check mark whether the registrant by furnishing the information
contained in this Form, is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
YES [ ] NO [X]
If "Yes" is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3- 2(b): 82-_____________
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf of the
undersigned, thereunto duly authorized.
HALO RESOURCES LTD.
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Date: November 13, 2006 /s/ Nick DeMare
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Nick DeMare,
Director and CFO
HALO RESOURCES LTD.
#1280 - 625 HOWE STREET
VANCOUVER, BC V6C 2T6
TEL: (604) 484-0068 FAX: (604) 484-0069
TSXV SYMBOL: HLO OTCBB SYMBOL: HLOSF
FRANKFURT EXCHANGE: HRL
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HALO ANNOUNCES THAT THE ACQUISITION OF ITS 50% INTEREST IN THE
BACHELOR LAKE PROPERTY, QUEBEC WAS NOT COMPLETED BY THE PURCHASER
VANCOUVER, BRITISH COLUMBIA - November 13, 2006 - Halo Resources Ltd. (the
"Company") (TSX.V:HLO; OTC.BB:HLOSF; FSE:HRL) announces that Metanor Resources
Inc. ("Metanor") did not complete Metanor's acquisition of the Company's 50%
undivided ownership interest in the Bachelor Lake Property, the Hewfran Property
and the MJL-Hansen Property located in Quebec, Canada (collectively, the
"Bachelor Property"), together with the Company's 50% participating interest
therein, on or before November 10, 2006 as contemplated by the Purchase
Agreement between the Company and Metanor dated April 27, 2006 (as amended to
the November 10, 2006 closing date by letter agreement dated August 17, 2006).
As a result, the Company has the option, in its sole and absolute discretion, to
purchase Metanor's 50% undivided ownership interest in the Bachelor Property,
together with Metanor's 50% participating interest therein, on the same terms
and for the same consideration as was applicable to the purchase by Metanor of
the Company's 50% interest in such properties, all as previously disclosed by
the Company on May 5, 2006. Pursuant to the Purchase Agreement, the Company has
ten (10) days, commencing on November 10, 2006, to exercise such option and in
the event that the Company exercises such option, which would be subject to
acceptance of filing with the regulatory authorities, it must complete such
purchase within four (4) months of November 10, 2006. The Company's other option
is to continue negotiations with Metanor concerning a restructured sale
arrangement or a restructured joint venture agreement. At this time management
is assessing both options.
Halo is a Canadian-based resource company focused on the acquisition of near
production base and precious base metal deposits. Currently the Company owns or
has an interest in 4 projects: Duport, which is an advanced stage gold project;
Red Lake Project, which is a gold exploration project, Quarter Moon which is a
grass roots gold project, and the Sherridon project, which is a grass roots VMS
project. The Company is operated by an experienced management team and backed by
a strong network of mining financiers. The Company's growth strategy is to
develop a diversified portfolio of advanced mining projects.
ON BEHALF OF THE BOARD
/s/ Marc Cernovitch
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Marc Cernovitch, President and CEO
The TSX Venture Exchange has not reviewed and does not accept responsibility for
the adequacy or accuracy of this release. Except for the historical statements
contained herein, this news release presents "forward-looking statements" within
the meaning of the United States Private Securities Litigation Reform Act of
1995 and similar Canadian legislation that involve inherent risks and
uncertainties. Forward-looking statements include, but are not limited to,
statements with respect to the future price of gold and other minerals and
metals, the estimation of mineral reserves and resources, the realization of
mineral reserve estimates, the capital expenditures, costs and timing of the
development of new deposits, success of exploration activities, permitting time
lines, requirements for additional capital, government regulation of mining
operations, environmental risks, unanticipated reclamation expenses, title
disputes or claims and limitations on insurance coverage. Generally, these
forward looking statements can be identified by the use of forward-looking
terminology such as "plans", "expects" or "does not expect", "is expected",
"budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or
"does not anticipate", or "believes", or variations of such words and phrases or
state that certain actions, events or results "may", "could", "would", "might"
or "will be taken", "occur" or "be achieved". Forward-looking statements are
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subject to known and unknown risks, uncertainties and other factors that may
cause the actual results, level of activity, performance or achievements of Halo
to be materially different from those expressed or implied by such
forward-looking statements, including but not limited to: risks related to the
integration of acquisitions; risks related to joint venture operations; actual
results of current exploration activities; actual results of current or future
reclamation activities; conclusions of economic evaluations; changes in project
parameters as plans continue to be refined; future prices of gold and other
minerals and metals; possible variations in ore reserves, grade or recovery
rates; failure of equipment or processes to operate as anticipated; accidents,
labour disputes and other risks of the mining industry; and delays in obtaining
governmental approvals or financing or in the completion of development or
construction activities. Although the management and officers of Halo Resources
Ltd. believe that the expectations reflected in such forward-looking statements
are based upon reasonable assumptions and have attempted to identify important
factors that could cause actual results to differ materially from those
contained in forward-looking statements, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can be no
assurance that such statements will prove to be accurate, as actual results and
future events could differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on forward-looking
statements. Halo does not undertake to update any forward-looking statements
that are incorporated by reference herein, except in accordance with applicable
securities laws. Trading in the securities of Halo Resources Ltd. should be
considered highly speculative.
For further information, please contact:
Marc Cernovitch, President & CEO
Halo Resources Inc. Tel: 604-484-0068
Fax: 604-484-0069 Toll Free: 1-866-841-0068
mcernovitch@halores.com