Business
Horizon Petroleum Announces Delay in Filing of Annual Financial Statements, MD&A and Management Cease Trade Order
Horizon Petroleum Announces Delay in Filing of Annual Financial Statements, MD&A and Manageme...
About this update from Horizon Petroleum Ltd.
[{"type":"text","content":"\n\n\nHorizon Petroleum Announces Delay in Filing of Annual Financial Statements, MD&A and Management Cease Trade Order\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\nHorizon Petroleum Announces Delay in Filing of Annual Financial Statements, MD&A and Management Cease Trade Order\nCanada NewsWire\n\n\nCALGARY, AB, Dec. 29, 2025 /CNW/ - Horizon Petroleum Ltd. (TSXV: HPL) (\"Horizon\" or the \"Company\") announces that because of delays in the completion of its audit, the Company will be unable to meet the filing deadline of December 29, 2025, for filing of the following continuous disclosure documents (collectively, the \"Annual Filings\"):\n\n\n\n\n\n\n\nthe Company's Annual Audited Financial Statements for the year ended August 31, 2025, ‎as required by section 4.2 of National Instrument 51-102 - Continuous Disclosure ‎‎Obligations (\"NI 51-102\");‎the Company's Management Discussion & Analysis for the year ended August 31, 2025, ‎as required by section 5.1(2) of NI 51-102;Form 51-101F1, F2 and F3 for the year ended August 31, 2025; andthe certification of the annual filings for the year ended August 31, 2025.Horizon has made all reasonable efforts and allocated its available resources to the ‎preparation, ‎completion and filing of the Annual Financial Statements. McGovern Hurley LLP (\"McGovern Hurley\"), the Company's auditors, has advised the Company that it may be unable to complete its audit of the ‎annual financial statements by December 29, 2025.‎ The Company expects that McGovern Hurley will be able to complete the audit by February 16, 2026, ‎with the Annual Filings to be completed as soon as possible ‎thereafter.‎\nIn response to the Annual Filings delay, the Company has applied to the Alberta Securities Commission for a management cease trade order (\"MCTO\") under National Policy 12-203 – Management Cease Trade Orders (\"NP 12-203\") that, if granted, will prohibit the management of the Company from trading in the securities of the Company until...