On March 29, 2024, Horizon Petroleum Ltd closed the transaction. The company issued 5,500,000 units at a price of CAD 0.05 for gross proceeds of CAD 275,000 in the second tranche. The company paid a finder's fee of CAD 3,500 cash and broker warrants to acquire 70,000 common shares at a price of CAD 0.075 per share for a period of 12 months following the closing date.

In total, between the first and second tranches of the private placement, the company issued 8,600,000 units for gross proceeds of CAD 430,000. The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement. Total finder's fee is CAD 4,550 and 91,000 warrants.

The transaction included participation from 3 insiders with total existing insider involvement: 2,573,666 shares, 2 pro groups with total pro group involvement of 2,200,000 shares.