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Horizon Petroleum ( (TSE:HPL) ) has shared an announcement.
Horizon Petroleum Ltd. has successfully closed a Secured Non-Convertible Debenture offering, raising $720,000 through the issuance of 720,000 debenture units. The funds will be used for the purchase of long lead items for planned workover operations in the Lachowice gas field in southern Poland, as well as for general working capital and administrative expenses. The offering, which included participation from eight investors, is subject to TSX Venture Exchange approval and involves a related party transaction. The financing is treated as a loan with bonus warrants, impacting the company’s operations by providing necessary capital for its European projects.
More about Horizon Petroleum
Horizon Petroleum Ltd. is a Calgary-based company focused on the appraisal and development of conventional oil and natural gas resources onshore in Europe. The management and board consist of professionals with significant international experience in the oil and natural gas industry.
Average Trading Volume: 240,751
Technical Sentiment Signal: Hold
Current Market Cap: C$7.74M
See more insights into HPL stock on TipRanks’ Stock Analysis page.