Horizon Petroleum Ltd. announced a non-brokered private placement of up to 10,000,000 units at a price of CAD 0.05 per unit for gross proceeds of CAD 500,000 on January 2, 2024. Each Unit will consist of one common share and one common share purchase warrant. Each Unit will consist of one common share and one common share purchase warrant.

In connection with the offering, certain insiders are expected to purchase units in the offering. As a part of the transaction, the company may pay finder's fees of up to 7% cash and up to 7% convertible securities, or a combination of both, as permitted by the policies of the TSX-V. The transaction is subject to approval from the TSX-V.