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Horizon Petroleum ( (TSE:HPL) ) just unveiled an announcement.
Horizon Petroleum Ltd. has launched a private placement of secured convertible debentures totaling $200,000, priced at $1,000 each and ranking second behind existing debentures issued in May 2025. The debentures carry a 15% annual interest rate over 24 months and are convertible into units at $0.10 per unit, each unit consisting of 10,000 common shares and 5,000 warrants exercisable at $0.15 for 36 months.
The financing, which may include finders’ fees of up to 7% in cash and 7% in warrants, is subject to TSX Venture Exchange approval and customary closing conditions, with all securities under a four-month hold period. The capital raise is intended to support Horizon’s ongoing efforts to finance its Polish natural gas projects, potentially strengthening its ability to advance development of its European onshore gas assets and reinforcing its position in the region’s conventional gas sector.
More about Horizon Petroleum
Horizon Petroleum Ltd. is a Calgary-based oil and natural gas company focused on the appraisal and development of conventional onshore resources in Europe. The company holds two concessions in Poland with significant undeveloped natural gas discoveries, and its initial development priority is the Lachowice gas field in the Bielska-Biala concession, backed by a management team with international industry experience.
Average Trading Volume: 42,913
Technical Sentiment Signal: Sell
Current Market Cap: C$3.2M
Find detailed analytics on HPL stock on TipRanks’ Stock Analysis page.