Horizon Minerals Limited announced that it has entered into a binding term sheet with Nebari Partners Llc for a private placement of senior secured convertible loan credit facility for proceeds of $5 million on October 18, 2022. The funding will be raised in two tranches with $2 million in first tranche and $3 million in second tranche. The transaction is subject to conditions precedent typical for a transaction of this nature including, but not limited to, final documentation and Horizon obtaining prior shareholder approval which will be sought at the upcoming Annual General Meeting in November 2022.