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HORIZON PETROLEUM LTD. ANNOUNCES UPSIZE OF CONVERTIBLE DEBENTURE OFFERING UP TO $4 MILLION
HORIZON PETROLEUM LTD. ANNOUNCES UPSIZE OF CONVERTIBLE DEBENTURE OFFERING UP TO $4 MILLION ...
About this update from Horizon Petroleum Ltd.
[{"type":"text","content":"\n\n\nHORIZON PETROLEUM LTD. ANNOUNCES UPSIZE OF CONVERTIBLE DEBENTURE OFFERING UP TO $4 MILLION\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CENTER\n}\n\n\n\n\n\n\nCanada NewsWire\n\n\n/THIS PRESS RELEASE IS NOT FOR PUBLICATION OR DISSEMINATION IN THE UNITED STATES.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, April 6, 2026 /CNW/ - Horizon Petroleum Ltd. (the \"Company\" or \"Horizon\") (TSXV: HPL) (FRA: HPM) (Tradegate: HPM) is pleased to announce an update to its press release dated March 27, 2026. Due to increased investor demand, the Company has increased its private placement by $1 million, up to a maximum of $4,000,000 in the aggregate principal amount of secured convertible debentures (each, a \"Debenture\") at a price of $1,000 per Debenture.  The closing date is expected to be on or before April 15, 2026.\n\n\n\n\n\n\n\nThe proceeds will pay for i.) the civil works for the planned re-entry and production testing of the Lachowice 7 gas well this summer, ii.) continuing technical and operational development planning and iii.) to provide working capital for general corporate purposes in Poland and in Canada and to repay existing liabilities.The Debenture bears interest from the applicable issuance date at 7% per annum until the date that is 24 months following the closing date (the \"Maturity Date\") with interest paid semi-annually in arrears in cash or in shares at the Company's option.  The Debenture will be secured and ranking on default in fourth position behind the currently issued debentures due on May 20, 2026 (\"Series 1 Debentures\"), the convertible debentures due on December 19, 2027, December 29, 2027 and February 27, 2028 (\"Series 2 Debentures\"), and the convertible debentures due on March 25, 2028 (\"Series 3 Debentures\").Each holder of a Debenture Unit shall have the right, at its option, at any time up to and including the Maturity Date, to convert any or all of the Debenture Units into equity units (\"Equity Units\") on the basis of each $1,000 principal...