On July 20, 2015, Horizon Capital Management Inc. issued a public statement calling upon all shareholders of Americas Petrogas Inc. to vote for Horizon's 3 independent nominees: Juan Argento, Aris Tsikouras, and Alex Zyngier to the Board of the Company and urging shareholders once again to vote against the proposed sale by the Company of all of the outstanding common shares of Americas Petrogas Argentina S.A. to Tecpetrol International S.A. and its affiliates and related transactions at the upcoming shareholders meeting scheduled for July 29, 2015. In addition, Horizon demanded that the Board postpone the meeting to allow shareholders to properly evaluate the proposed transaction once all material information has been provided by the board. Furthermore, Horizon requested that Barclay Hambrook and Carlos Lau immediately resign from all their positions and that the new board appoint a new CEO.