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Horizon (TSXV: HPL.H) announces non-brokered private placement

Energy, The Market Online Deal Room
TSXV:HPL.H
23 August 2022 14:30 (EST)

Source: Horizon Petroleum

Horizon Petroleum (HPL.H) has announced a non-brokered private placement for gross proceeds of up to $1,000,000.

The placement includes up to 50,000,000 units at $0.02 per unit. Each unit will consist of one common share and one share purchase warrant. Each warrant entitles the holder to purchase one additional share at $0.05 for 1 year.

The company may pay finder’s fees in cash or securities, or a combination of both.

Proceeds will be used to pay $110,000 owed by the company following a settlement agreement and to service other debt.

Horizon Petroleum (HPL.H) is a Calgary-based company focused on the appraisal and development of conventional oil & natural gas resources onshore Europe.

Horizon Petroleum (HPL.H) is down today, trading at C$0.04 as of Aug 23, 2022, 2:25pm ET.


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