CALGARY,
AB, May 21, 2024 /CNW/ - Horizon Petroleum
Ltd. ("Horizon" or the "Company") (TSXV: HPL.H) is
pleased to announce that its private placement of Units announced
on May 1, 2024, ("Private Placement")
closed on May 17, 2024.
The Company issued 1,400,000 Units at a price of CAD$0.05, for gross proceeds of CAD$70,000.
The Units comprised: (i) one common share in the capital of the
Company ("Common Share"), and (ii) one transferable share
purchase warrant entitling the holder thereof to acquire one
Common Share at a price of CAD$0.075
("Warrant") per share (collectively the "Warrants"). The
rights under the Warrants will last for a period of 12 months
following the closing date.
The Private Placement remains subject to TSX Venture Exchange
final acceptance.
All securities issued in connection with the Private Placement
will not be able to be traded in Canada, or through the facilities of the TSX
Venture Exchange, for a period of four months and one day from
the date of closing.
The TSX Venture Exchange Inc. has neither approved nor
disapproved the contents of this news release.
Certain information in this press release may contain
forward-looking statements. This information is based on current
expectations that are subject to significant risks and
uncertainties that are difficult to predict. Actual results might
differ materially from results suggested in any forward-looking
statements. The Company assumes no obligation to update the
forward-looking statements, or to update the reasons why actual
results could differ from those reflected in the forward
looking-statements unless and until required by securities laws
applicable to the Company. Additional information identifying risks
and uncertainties is contained in the Company's filings with the
Canadian securities regulators, which filings are available at
www.sedar.com.
Neither the TSX-V nor its Regulation Services Provider (as
that term is defined in policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this press
release.
SOURCE Horizon Petroleum Ltd.