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HORIZON PETROLEUM LTD. CLOSES A SECOND TRANCHE OF CONVERTIBLE DEBENTURE UNIT OFFERING
HORIZON PETROLEUM LTD. CLOSES A SECOND TRANCHE OF CONVERTIBLE DEBENTURE UNIT OFFERING Can...
About this update from Horizon Petroleum Ltd.
[{"type":"text","content":"\n\n\nHORIZON PETROLEUM LTD. CLOSES A SECOND TRANCHE OF CONVERTIBLE DEBENTURE UNIT OFFERING\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\n\nCanada NewsWire\n\n\nCALGARY, AB, Dec. 24, 2025 /CNW/ - Horizon Petroleum Ltd. (TSXV: HPL) (FRA: HPM) (Tradegate: HPM) (\"Horizon\" or the \"Company\") announces that, subject to TSX Venture Exchange acceptance, it has closed a second  tranche of 100 secured convertible debenture units (\"Secured Convertible Debenture Units\") of the company at a price of $1,000 per unit, for aggregate gross proceeds of $100,000. One investor subscribed for the financing (the \"Offering\"). \n\n\n\n\n\n\n\nThe debentures bear interest from the applicable issuance date at 15% per annum until the date that is 24 months following the closing date (the \"Maturity Date\") with interest paid annually in arrears.  The debentures will be second position secured behind the $720,000 of debentures issued on May 20, 2025 and due May 20, 2026 (the \"May 2025 Debentures\").\nEach holder of a Secured Convertible 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 Secured Convertible Debenture Units into equity units (\"Equity Units\") on the basis of each $1,000 principal amount for (i)  10,000 common shares of the Corporation (each a \"Common Share\") issued at $0.10 per Common Share, and (ii) 5,000 Common Share purchase warrants (\"Warrants\"), with each Warrant exercisable until thirty-six months from closing the Debentures, into one (1) Common Share at a price of $0.15. \nIn connection with the tranche, the Company paid finder's fees of $7,000 cash and 70,000 finder warrants with an exercise price of $0.10 per warrant with an expiry date of December 24, 2027.\nThe company intends to use the proceeds from the offering for general corporate purposes.\nAll securities issued under the offering, including securities issuable on exercise thereof, are subject to a hold period expiring four months and one day from the date hereof.\nThe offering is subject to cert...