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The latest update is out from Horizon Petroleum ( (TSE:HPL) ).
Horizon Petroleum Ltd. announced a non-brokered private placement of up to 720,000 debenture units at $1 per unit, aiming to raise $720,000, subject to TSX Venture Exchange acceptance. The proceeds will be used for purchasing long lead items for the Lachowice gas field development in Poland and for general working capital. The offering includes secured subordinated debentures with a 15% annual interest rate, maturing one year after closing, and warrants exercisable at $0.20 per share. The company is utilizing exemptions from certain regulatory requirements due to the participation of directors and officers, and the offering is contingent on necessary approvals.
More about Horizon Petroleum
Calgary-based Horizon Petroleum Ltd. is focused on the appraisal and development of conventional oil and natural gas resources onshore in Europe. The company is led by a management team and board with significant international experience in the oil and natural gas industry.
Average Trading Volume: 228,895
Technical Sentiment Signal: Hold
Current Market Cap: C$7.74M
For an in-depth examination of HPL stock, go to TipRanks’ Stock Analysis page.