On May 17, 2024, Horizon Petroleum Ltd. closed the transaction. The company announced that it has issued 1,400,000 units at an issue price of CAD 0.05 per Unit for gross proceeds of up to CAD 70,000. Each Unit will consist of one common share and one common share purchase warrant. Each Warrant will entitle the holder to purchase one Common Share at a price of CAD 0.075 for a period of 12 months from the date of issuance.

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement. The transaction included participation from 2 placees.