- Horizon Petroleum (HPL.H) has closed the first tranche of its non-brokered private placement
- Under the first tranche, Horizon issued 24,000,000 units at a price of $0.02 per unit for gross proceeds of $480,000
- Net proceeds will be used for the repayment of debt and working capital purposes
- Horizon Petroleum (HPL.H) is a Calgary-based company focused on the appraisal and development of conventional oil & natural gas resources onshore in Europe
- Horizon Petroleum Ltd. (HPL.H) opened trading at C$0.075
Horizon Petroleum (HPL.H) has closed the first tranche of its previously-announced non-brokered private placement.
Under the first tranche, Horizon issued 24,000,000 units at a price of $0.02 per unit for gross proceeds of $480,000.
Each unit consists of one common share and one common share purchase warrant. Each warrant will entitle the holder to purchase one additional common share for a period of twelve months.
The company paid finders’ fees consisting of cash fees of $15,300 and 1,020,000 non-transferable finder’s warrants.
Net proceeds will be used for the repayment of debt and working capital purposes.
All securities issued are subject to a statutory four-month hold period.
Horizon Petroleum (HPL.H) is a Calgary-based company focused on the appraisal and development of conventional oil & natural gas resources onshore in Europe.
Horizon Petroleum Ltd. (HPL.H) opened trading at C$0.075.