Horizon Petroleum Ltd. Announces C$7.5 Million Financing

THIS PRESS RELEASE IS NOT FOR PUBLICATION OR DISSEMINATION IN THE UNITED STATES. FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAW.

THE SHELF PROSPECTUS SUPPLEMENT, THE CORRESPONDING BASE SHELF PROSPECTUS AND ANY AMENDMENT TO THE DOCUMENTS IS ACCESSIBLE THROUGH SEDAR+ OR WILL BE ACCESSIBLE THROUGH SEDAR+ WITHIN 2 BUSINESS DAYS, AS APPLICABLE.

CALGARY, Alberta, Aug. 06, 2025 (GLOBE NEWSWIRE) -- Horizon Petroleum Ltd. (the “Company” or “Horizon”) (TSX-V: HPL) is pleased to announce that it has entered into a commercially reasonable efforts agreement with a syndicate of agents (the “Agreement”), led by Haywood Securities Inc. (the “Agents”), pursuant to which the Agents have offered to sell, on a commercially reasonable efforts agency basis, up to 75,000,000 units (the “Units”) at a price of $0.10 per Unit (the “Issue Price”) for aggregate gross proceeds to the Company of up to $7.5 million (the “Offering”). Each Unit will be comprised of one common share in the capital of the Company (a “Common Share”) and one common share purchase warrant of the Company (a “Warrant”). Each Warrant will entitle the holder to acquire one Common Share for an exercise price of $0.15 per share for 36 months from the Closing Date (as defined below).

The Company has agreed to grant the Agents an over-allotment option to offer for sale up to an additional 15% of the aggregate number of Units at the Issue Price, exercisable in whole or in part at any time for a period ending 30 days from the Closing Date.

The Units will be offered under the short form base shelf prospectus of the Company dated May 22, 2025 (the “Base Shelf Prospectus”), as supplemented by a shelf prospectus supplement (the “Prospectus Supplement”) to be prepared and filed in each of the provinces of Canada, other than Quebec.

The Offering is expected to close on or about August 20, 2025 (the “Closing Date”) and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.

The Company intends to use the net proceeds from the Offering for development capital and general corporate purposes. The development capital will be deployed in the initial development program at the Lachowice gas discovery in the Bielsko-Biala concession. The work will include the re-entry and workover of the Lachowice 7 gas well to production test and complete the Devonian aged, naturally fractured carbonate reservoirs.

Access to the Prospectus Supplement, the Base Shelf Prospectus and any amendment to such documents is provided in accordance with securities legislation relating to the procedures for providing access to a shelf prospectus supplement, a base shelf prospectus and any amendment. The Base Shelf Prospectus is, and the Prospectus Supplement will be (within two business days from the date hereof), accessible on SEDAR+ at www.sedarplus.com. An electronic or paper copy of the Prospectus Supplement, Base Shelf Prospectus, and any amendment to such documents may be obtained, without charge, from Haywood Securities Inc., at 700 - 200 Burrard Street, Vancouver, British Columbia, V6C 3L6, Attn: Michelle Jankovich, Director & Vice President, Equity Capital Markets, or by email at ecm@haywood.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities of any such jurisdiction.

ABOUT HORIZON

Calgary-based Horizon is focused on the appraisal and development of conventional oil & natural ‎gas resources onshore Europe. The Management and Board of Horizon consist of oil & natural gas ‎professionals with significant international experience.‎

For further information about the Company, please contact: ‎
Dr. David Winter, CEO, +1 403 619-2957, dawinter@horizon-petroleum.com;
Ian Habke, CFO and Vice President Finance, +1 403 973-2900, Ian.habke@horizon-petroleum.com

Forward-Looking Information

This press release contains forward-looking information within the meaning of Canadian securities laws (collectively “forward-looking statements”). Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, plans, postulate and similar expressions, or are those, which, by their nature, refer to future events. All statements that are not statements of historical fact are forward-looking statements. Forward-looking statements in this press release include but are not limited to statements regarding, the Offering, the anticipated use of proceeds from the Offering, the Company’s presence in Poland and ability to achieve results, creation of value for Company shareholders, planned drilling, commencement of operations. Although the Company believes any forward-looking statements in this press release are reasonable, it can give no assurance that the expectations and assumptions in such statements will prove to be correct. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and other risks involved in the oil and gas exploration and development industry, including those risks set out in the Company’s management’s discussion and analysis as filed under the Company’s profile at www.sedarplus.ca. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including that all necessary governmental and regulatory approvals will be received as and when expected. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.