Hallador Energy exchanges $11M convertible notes for 2.09M shares of common stock

HALLADOR ENERGY CO

Exchanged $10M note (ALJ Investment Company) + $1M note (Hallador Alternative Assets Fund) with accrued interest.
Issued 1,900,000 shares to ALJ and 190,000 shares to Hallador Alternative Assets in settlement.
Issuance exempt under Section 4(a)(2), Section 3(a)(9) and Rule 506(b) of Regulation D.
Transaction eliminates $11M of convertible debt from the balance sheet.
Dilution of approximately 6.5% based on shares outstanding prior to issuance.

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