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 SEPTEMBER, 2007.
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: September 06, 2007 /s/ Marc Cernovitch
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Marc Cernovitch
Chairman
HALO RESOURCES LTD.
#2900A - 25 KING STREET
YORK, ON M9N 1K8
TEL: (416) 368-7045 FAX: (416) 368-9805
TSXV SYMBOL: HLO OTCBB SYMBOL: HLOSF
FRANKFURT EXCHANGE: HRL
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HALO ACCELERATES SALE OF ITS 50% INTEREST IN BACHELOR TO METANOR
TORONTO, ONTARIO, SEPTEMBER 6, 2007 -- LYNDA BLOOM, PRESIDENT AND CEO OF HALO
RESOURCES LTD. (TSX:HLO; OTC.BB:HLOSF; FSE:HRL) is pleased to announce that Halo
Resources Ltd. ("Halo") and Metanor Resources Inc. ("Metanor") have agreed to
accelerate Metanor's acquisition of Halo's 50% interest in the Bachelor Lake
Property, the Hewfran Property and the MJL-Hansen Property located in Quebec,
Canada (collectively, the "Bachelor Property"), together with Halo's 50%
participating interest therein, as contemplated by the Purchase Agreement dated
April 27, 2006, as amended by Letter of Agreement dated August 17, 2006 and
further amended on November 17, 2006 (collectively, the "Amended and Restated
Letter of Agreement").
Pursuant to an agreement dated August 22, 2007, Halo and Metanor agreed to
settle the two (2) last payments of $500,000, scheduled for August 31st, 2007
and November 30, 2007, totaling $1,000,000, as contemplated in the Amended and
Restated Letter of Agreement, in consideration for a cash payment of $800,000
payable on August 31st, 2007 plus 125,000 common shares of Metanor at a price of
$0.80 per share, as full and final payment for Halo's 50% interest in the
Bachelor Property, together with Halo's 50% participating interest therein. All
other terms of the Amended and Restated Letter of Agreement remain in force and
effect as previously disclosed by Halo on November 20, 2006, including Metanor
entering into a binding net smelter returns royalty agreement with Halo,
granting Halo a 1% net smelter returns royalty on all mineral production (in any
form whatsoever) from the Bachelor Property.
The parties intend to complete the sale of Halo's interest to Metanor on or
before September 19, 2007. This proposal is subject to the approval of the board
of directors of each of Halo and Metanor and of the TSX Venture Exchange.
The sale of Bachelor Lake allows Halo to focus its full attention and resources
on its ongoing exploration of the Sherridon VMS Property. The Sherridon VMS
Property covers an area of over 20,876 hectares and hosts the past-producing
Sherridon Mine that was operated by Sherritt Gordon Mines from 1933 to 1950 and
produced 7.7 million tonnes of ore grading 2.46% copper and 0.8% zinc. Results
from an airborne geophysical survey completed in the summer of 2006 identified
an additional 122 targets. The property is located only 70 km northeast of the
mining and metallurgical complex in Flin Flon operated by HudBay Minerals Inc.
Future development of the property is facilitated by the presence of an
all-weather road and railroad access as well as a power line and communications
tower.
For further information, please contact:
Lynda Bloom, President & CEO or Marc Cernovitch, Chairman
Halo Resources Ltd.
Tel: 416-368-7045 Fax: 416-368-9805
Toll Free: 1-866-841-0068 lbloom@halores.com
ABOUT HALO RESOURCES LTD.
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 3 projects: Duport, which is an advanced stage gold project;
Red Lake, which is a gold exploration project, and the Sherridon project that is
a combination of mature and grassroots volcanogenic massive sulphide (VMS)
copper, zinc and gold exploration opportunities. 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.
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The TSX Venture Exchange does not accept responsibility for the adequacy or
accuracy of this release. Except for historical statements contained herein,
this news release presents "forward looking information" within the meaning of
applicable Canadian and United States securities legislation. Forward-looking
information includes, but is not limited to, information with respect to future
exploration activities. Forward-looking information can frequently be identified
by words such as "plans", "expects", "estimates", "forecasts", "intends",
"anticipates", or "believes", or the negative thereof, or other similar words
and phrases or state that certain actions, events or results "may", "could" or
"might" occur or be achieved. Forward-looking information is 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 information,
including but not limited to: risks related to joint venture operations; changes
in project parameters; fluctuating metal prices; possible variations in ore
reserves, grade or recovery rates; the possibility of project cost overruns or
unanticipated costs and expenses; 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. Although
Halo has 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 information will prove to be
accurate, as actual results and future events could differ materially from those
anticipated in such information. Accordingly, readers should not place undue
reliance on forward-looking information. Halo does not undertake to update any
forward-looking information, except in accordance with applicable securities
laws.