Announcement • 22h
Horizon Petroleum Ltd. announced that it has received CAD 4.12595 million in funding On July 7, 2026, Horizon Petroleum Ltd. closed the oversubscribed transaction subject to TSX Venture Exchange acceptance. The transaction consists of 27,506,333 Units of the company at an issue price of CAD 0.15 for ross proceeds of CAD 4,125,949.95. The Units comprised: (i) one common share in the capital of the Company and (ii) one transferable share purchase ??half warrant entitling the holder ??thereof to ??acquire one Common Share at a price ?of CAD 0.25 per ??share. In connection with the private placement, the Company paid finder's fees of CAD 267,361 cash and 1,782,410 finder warrants with an exercise price of CAD 0.15 per warrant with an expiry date of July 3, 2028. All securities issued under the offering, including securities issuable on exercise thereof, are subject to a hold period expiring four months and one day from the date hereof. Announcement • Jun 25
Horizon Petroleum Ltd. announced that it expects to receive CAD 4 million in funding Horizon Petroleum Ltd. announced a non-brokered private placement of 26,666,667 units at a price of CAD 0.15 per Unit for gross proceeds of up to CAD 4,000,000 on June 23, 2026. Each Unit will consist of one common share and one-half of one common share purchase warrant. Each Warrant will entitle the holder to purchase one Common Share at a price of CAD 0.25 for a period of 36 months from the date of issuance. The Offering remains subject to TSX Venture Exchange approval. The securities will be subject to a four-month hold period. In connection with the Offering, Horizon may pay finder's fees of up to 7% cash and up to 7% finder warrants, or a combination of both, as permitted by the policies of the TSX Venture Exchange. Board Change • Jun 21
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Independent Non-Executive Director Riccardo Monti was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. 
