Business
HORIZON PETROLEUM LTD. ?ANNOUNCES A SHARE CONSOLIDATION AND PROVIDES A CORPORATE UPDATE
HORIZON PETROLEUM LTD. ‎ANNOUNCES A SHARE CONSOLIDATION AND PROVIDES A CORPORATE UPDATE ...
About this update from Horizon Petroleum Ltd.
[{"type":"text","content":"\n \n \n \n HORIZON PETROLEUM LTD. ‎ANNOUNCES A SHARE CONSOLIDATION AND PROVIDES A CORPORATE UPDATE\n \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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES OF AMERICA\n \n . ANY ‎FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS.‎/\n \n \n \n \n CALGARY, AB\n \n \n ,\n \n \n Nov. 27, 2023\n \n \n /CNW/ - Horizon Petroleum Ltd. (\"\n \n Horizon\n \n \" or the \"\n \n Company\n \n \") (TSXV: HPL.H) announces that the Directors have approved a consolidation of its common shares on the basis of one (1) ‎new common share for every existing five (5) common shares (the \"\n \n Consolidation\n \n \"), subject ‎to regulatory approval, including approval of the TSX Venture Exchange. Management believes ‎that the Consolidation is necessary to provide the Company with a share structure that will better ‎attract capital financing and that will provide for future growth as the Company executes it's European gas strategy and planned gas development in\n \n Poland\n \n . ‎This Consolidation was approved by the Company's shareholders at it's Annual General and Special Meeting of the shareholders on\n \n June 8, 2023\n \n .\n \n \n \n \n \n \n \n \n \n Effective on or about\n \n November 30, 2023\n \n , Horizon will complete the Consolidation. Where the ‎exchange results in a fractional share, the number of common shares will be ‎rounded up to the ‎next greater whole number of common shares. A new CUSIP number of 44053J409 replaces the old CUSIP ‎number of 44053J201 to distinguish between the pre- and post- consolidated shares. The Company's ‎name and trading symbol will remain unchanged.‎\n \n \n The Consolidation is being conducted on a \"push-out\" basis. Shareholders of the Company ‎without a physical share certificate do not need to take any action with respect to the ‎...