Horizon Petroleum Upsizes Convertible Debenture Financing to $4 Million

Horizon Petroleum ( (TSE:HPL) ) has provided an announcement.

Horizon Petroleum has increased its secured convertible debenture private placement by $1 million to a maximum of $4 million, responding to heightened investor demand ahead of an expected closing on or before April 15, 2026. Proceeds will fund civil works for re-entry and production testing of the Lachowice 7 gas well this summer, support ongoing technical and operational planning, provide working capital in Poland and Canada, and repay existing liabilities, while the debentures carry 7% interest, include equity conversion and warrant features, involve insider participation under MI 61-101 exemptions, and remain subject to TSX Venture Exchange approval and a four-month hold period.

The financing ranks behind three existing series of convertible debentures in the company’s capital structure and allows for payment of finder’s fees of up to 7% in cash and 7% in warrants. Horizon also corrected a previous disclosure, clarifying that certain finder’s warrants issued in an earlier financing will now expire on February 28, 2028, a detail that may be relevant for existing market participants and warrant holders monitoring the company’s evolving funding profile and capital stack.

More about Horizon Petroleum

Horizon Petroleum Ltd. is a Calgary-based oil and natural gas company focused on appraising and developing conventional gas resources to bolster energy independence and security in Europe. The company holds two Polish concessions with significant undeveloped natural gas discoveries, with its initial development efforts centered on the Lachowice gas field in the Bielska-Biala concession.

Average Trading Volume: 152,934

Technical Sentiment Signal: Hold

Current Market Cap: C$6.11M

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