FINWIRES · TerminalLIVE
FINWIRES

Horizon Petroleum Raises $2.5 Million After Closing First Tranche of Its Convertible Debenture Unit Offering

By

Horizon Petroleum (HPL.V) on Tuesday said it closed the first tranche of its secured convertible debenture units at $1,000 apiece, for proceeds of $2.5 million. The company added 25 investors subscribed for the financing.

"We appreciate the interest and support of our shareholders and key advisors at Leede Financial as we prepare to test and develop the natural gas discoveries at Lachowice in southern Poland," said Chief Executive David Winter. "We are looking forward to commencing the civil works to prepare the Lachowice-7 wellsite for the testing and first production and continuing our technical and operations planning work for the Lachowice gas development."

Proceeds will be used to complete the civil works at the Lachowice 7 wellsite, the payment of existing liabilities and for general corporate needs.

Shares of the company were last seen down 4.4% at $0.11 on the TSX Venture Exchange.

Price: $0.11, Change: $-0.01, Percent Change: -4.35%

Related Articles

Mining & Metals

Emerita Resources Receives Unsolicited, Non-binding Takeover Offer From Denarius Metals

Emerita Resources (EMO.V) after trade Monday confirmed it received an unsolicited takeover offer from Denarius Metals to acquire all of its shares at a 15% premium to their April 10 closing price, with consideration structured entirely in Denarius shares.The company said Denarius has not provided additional terms in its offer letter, stating only that it is open to discussions with Emerita and has now publicly disclosed the offer.Emerita said its board, with its advisors, will review the proposal and decide what is in the best interest of the company and its shareholders. Shareholders do not need to take any action at this time."Emerita cautions its shareholders and potential investors that the offer letter is non-binding and there can be no certainty that Denarius' offer or any other strategic transaction will be pursued by Emerita, supported by the board or ultimately completed," the company said, adding that it will provide updates as needed.The company's shares closed up $0.06 to $0.32 on the TSX Venture Exchange

$EMO.V
Mining & Metals

NorthWest Copper Brief: Raising C$10 Million in a Best-Efforts Private Placement of Common Share Units, Charity Flow-Through Units and Flow-Through Shares

$NWST.V
Mining & Metals

AGF Management Names John Porter Chief Investment Officer

AGF Management (AGF-B.TO) after trade Monday said John Porter will become chief investment officer starting May 1.As CIO, Porter will lead the firm's investment team, set strategy, and focus on performance and risk management. He will report to Chief Executive Judy Goldring and join the executive management team, the company said."We are confident his leadership will unlock new opportunities, strengthen collaboration across our investment teams, and position AGF Investments for its next phase of growth," Goldring said.Porter most recently served as CIO at Newton Investment Management, part of BNY Investments. He previously held senior roles in equity investing and U.S. growth strategies after joining the firm in 2016, according to the statement.The company's shares closed up $0.19 to $20.02 on the Toronto Stock Exchange.

$AGF-B.TO