Horizon Petroleum Announces Private Placement for Up To $4 Million

About this update from Horizon Petroleum Ltd.

Not for distribution to U.S. Newswire Services or for dissemination in the United States of America. Any ‎failure to comply with this restriction may constitute a violation of U.S. Securities laws. CALGARY, AB, June 23, 2026 /CNW/ - Horizon Petroleum Ltd. (the "Company" or "Horizon") (TSXV: HPL) (FRA: HPM) (Tradegate: HPM) announces a non-brokered private placement (the "Offering") for up to 26,666,667 units ("Units") in the capital of Horizon at a price of $0.15 per Unit for gross proceeds of up to $4,000,000, subject to approval from the TSX Venture Exchange. Each Unit will consist of one common share and one-half of one common share purchase warrant ("Warrant") in the capital of the Company. Each Warrant will entitle the holder to purchase one Common Share at a price of $0.25 for a period of 36 months from the date of issuance. The Offering remains subject to TSX Venture Exchange approval. The securities will be subject to a four-month hold period. In connection with the Offering, Horizon may pay finder's fees of up to 7% cash and up to 7% finder warrants, or a combination of both, as permitted by the policies of the TSX Venture Exchange. The proceeds of the Offering will be used to complete the workover and testing operations at the Lachowice 7 well to confirm the reservoir productivity, Lachowice development planning and for general corporate purposes. About Horizon Petroleum Ltd. Calgary-based Horizon is focused on the appraisal and development of natural gas reserves and clean energy sources to increase energy independence and security in Europe. The Management and Board of Horizon consist of oil & gas, business and finance professionals with significant international experience. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release contains "forward-looking statements" or "forward-looking information" (collectively referred to herein as "forward-looking statements") within the meaning of applicable securities legislation. Such forward-looking statements include, without limitation, forecasts, estimates, expectations and objectives for future operations that are subject to a number of assum...

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