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Horizon Petroleum Ltd. Announces C$7.5 Million Financing

THIS PRESS RELEASE IS NOT FOR PUBLICATION OR DISSEMINATION IN THE UNITED STATES.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.

THE SHELF PROSPECTUS SUPPLEMENT, THE CORRESPONDING BASE SHELF PROSPECTUS AND ANY AMENDMENT TO THE DOCUMENTS IS ACCESSIBLE THROUGH SEDAR+ OR WILL BE ACCESSIBLE THROUGH SEDAR+ WITHIN 2 BUSINESS DAYS, AS APPLICABLE.

CALGARY, Alberta, Aug. 06, 2025 (GLOBE NEWSWIRE) -- Horizon Petroleum Ltd. (the "Company" or "Horizon") (TSXV:HPL) is pleased to announce that it has entered into a commercially reasonable efforts agreement with a syndicate of agents (the "Agreement"), led by Haywood Securities Inc. (the "Agents"), pursuant to which the Agents have offered to sell, on a commercially reasonable efforts agency basis, up to 75,000,000 units (the "Units") at a price of $0.10 per Unit (the "Issue Price") for aggregate gross proceeds to the Company of up to $7.5 million (the "Offering"). Each Unit will be comprised of one common share in the capital of the Company (a "Common Share") and one common share purchase warrant of the Company (a "Warrant"). Each Warrant will entitle the holder to acquire one Common Share for an exercise price of $0.15 per share for 36 months from the Closing Date (as defined below).

The Company has agreed to grant the Agents an over-allotment option to offer for sale up to an additional 15% of the aggregate number of Units at the Issue Price, exercisable in whole or in part at any time for a period ending 30 days from the Closing Date.

The Units will be offered under the short form base shelf prospectus of the Company dated May 22, 2025 (the "Base Shelf Prospectus"), as supplemented by a shelf prospectus supplement (the "Prospectus Supplement") to be prepared and filed ...