Horizon Petroleum Ltd announces a non-brokered private placement to issue1,400,000 units at an issue price of CAD 0.05 per Unit for gross proceeds of up to CAD 70,000 on May 1, 2024. 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 transaction is subject to approval from the TSX-Venture Exchange. The securities are subject to a four month hold period. In connection with the Offering, Horizon may pay finder's fees of up to 7% cash and up to 7% convertible securities, or a combination of both, as permitted by the policies of the TSX-V.