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Horizon Petroleum Down 19% After Raising $300,100 in a Non-Brokered Private Placement Of Units

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Horizon Petroleum (HPL.V) shares fell 19% after the company closed a private placement of units, raising $300,100.

The company placed 2.7-million units at $0.11 apiece and made up of a share and a tone half of a transferable warrant to buy a share for $0.15.

The rights under the warrants have a term of three years following the closing date. Proceeds will be used for general working capital needs and advancing its projects in Poland.

Shares of the company were last seen down $0.035 to $0.15 on the TSX Venture Exchange.

Price: $0.15, Change: $-0.04, Percent Change: -18.92%

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