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HORIZON PETROLEUM LTD. ANNOUNCES CONVERTIBLE DEBENTURE FINANCING
HORIZON PETROLEUM LTD. ANNOUNCES CONVERTIBLE DEBENTURE FINANCING Canada NewsWire /...
About this update from Horizon Petroleum Ltd.
[{"type":"text","content":"\n\n\nHORIZON PETROLEUM LTD. ANNOUNCES CONVERTIBLE DEBENTURE FINANCING\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CENTER\n}\n\n\n\n\n\n\nCanada NewsWire\n\n\n/THIS PRESS RELEASE IS NOT FOR PUBLICATION OR DISSEMINATION IN THE UNITED STATES. FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAW./CALGARY, AB, March 17, 2026 /CNW/ - Horizon Petroleum Ltd. (the \"Company\" or \"Horizon\") (TSXV: HPL) (FRA: HPM) (Tradegate: HPM) is pleased to announce the launch of a financing of convertible debentures. The convertible debenture financing takes the form of a private placement offering (the \"Offering\") in the aggregate principal amount of up to $1,200,000 of secured convertible debentures (each, a \"Debenture\") at a price of $1,000 per Debenture. The Convertible Debenture will be secured and ranking on default in third position behind the currently issued debentures due on May 20, 2026 (\"Series 1 Debentures\") and the convertible debentures due on December 19, 2027, December 29, 2027 and February 27, 2028 (\"Series 2 Convertible Debentures\").\n\n\n\n\n\n\n\nDavid Winter, CEO of the Company commented: \"The proceeds will pay the final payments for long lead items and civil works for the planned re-entry of the Lachowice 7 gas well and provide working capital for general corporate purposes in Poland and in Canada\".The Debentures bear interest from the applicable issuance date at 7% per annum until the date that is 24 months following the closing date (the \"Maturity Date\"). The closing date is anticipated to be March 31, 2026. The principal amount of the Debentures can be convertible into units of the Company (the \"Units\") at the option of the holder at any time prior to the close of business on the last business day immediately preceding the Maturity Date, at a conversion price of $0.10 per Unit (the \"Conversion Price\"), subject to adjustment in certain events.Each Unit is comprised of: (i) one common share of the Company (each, a \"Common Share\"); and (ii) one half of one Common Share purchase warrant (each...