Horizon Petroleum Achieves Conditional TSX Venture Reinstatement

Author: Evelyn Baker Updated: 11-08-2024 07:15 AM

Horizon Petroleum Receives Conditional TSX Venture Approval

Horizon Petroleum Ltd. (NEX: HPL.H) is excited to share that it has garnered conditional approval from the TSX Venture Exchange to reinstate its listing from NEX to Tier 2, specifically as a Tier 2 Oil and Gas Issuer. This significant reactivation is a major step forward for the company.

Conditions for Reinstatement

The reinstatement is conditioned upon the company fulfilling several requirements, including the acquisition of the final signed concession agreements for the Bielsko-Biala and Cieszyn areas, along with securing all necessary corporate and regulatory approvals.

Financing Closure Highlights

Additionally, Horizon has successfully closed the second tranche of its private placement of Units and subscription receipts, which was first announced previously. This funding initiative saw Horizon issue 1,045,455 Units priced at CAD$0.11 and 2,079,182 Subscription Receipts, yielding gross proceeds amounting to CAD$343,710. Each Unit comprises one common share and one transferable share purchase warrant, allowing the holder to purchase one additional share at a price of CAD$0.20 for a duration of 12 months.

Investment Participation

Throughout the entirety of this fundraising effort, Horizon has issued a total of 1,045,455 Units and 8,609,408 Subscription Receipts which brought the overall gross proceeds to around CAD$1,062,035. The investment climate indicates a positive trend surrounding Horizon, portraying investor confidence in the company’s strategy and vision.

Future Opportunities for Investors

As a vital part of their financing strategy, the Company has committed to paying finder's fees totaling CAD$8,117 in cash, alongside additional warrants for public participation in future successes. As the company proceeds, it invites investors to see the potential growth unfolding through these endeavors.

Regulatory Compliance

Moreover, it is essential to note that all securities that resulted from this private placement will face a trading hold for a period of four months and one day post-closing.

About Horizon Petroleum Ltd.

Horizon Petroleum Ltd. is based in Calgary and maintains a clear focus on the appraisal and development of natural gas reserves along with clean energy resources. The company is dedicated to enhancing energy independence and security, particularly across Europe. A skilled Management team and Board with extensive international expertise back this mission, propelling Horizon's agenda amid an evolving energy landscape.

Frequently Asked Questions

What is Horizon Petroleum's recent announcement?

Horizon Petroleum has received conditional approval for reinstatement onto the TSX Venture Exchange.

What does the TSX Venture Exchange approval involve?

The approval requires Horizon to meet certain conditions, including finalizing concession agreements and obtaining regulatory approvals.

How much funding did Horizon secure in the second tranche?

Horizon raised gross proceeds of CAD$343,710 from the second tranche of securities issued.

What are the benefits of the funding for Horizon?

The funding will assist Horizon in further developing its natural gas reserves and support its expansion efforts.

Who makes up the management team at Horizon?

The management and board consist of professionals with substantial oil, gas, business, and finance backgrounds, all with significant international experience.

About The Author

Greetings, I'm 32-year-old author and financial specialist Evelyn Baker. My introduction into the financial industry started with an economics degree and continued with a wealth of experience in wealth management and financial consulting. My great passion over the years has been assisting people and companies in making wise, well-informed decisions to reach their financial objectives.

My goal with writing is to simplify difficult financial ideas into understandable, doable guidance. My goal in writing many books and articles is to make personal finance understandable to everyone, irrespective of their experience or background. I want to give readers the information they need to take charge of their financial futures, from investing and retirement planning to budgeting and saving.

Along with my writing, I lead webinars and workshops where I provide doable advice and methods for achieving financial success. To reach a larger audience, I also frequently contribute to financial blogs and publications. My method is always to offer doable, real-world guidance that can actually improve people's lives.

Aside from my job, I like to cook, travel, and experience other cultures. I work hard to apply my belief in the value of a balanced life to my financial counsel. My goal in working is to encourage and enable people to succeed financially so they may lead the best lives possible.

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