Horizon Petroleum Settles CAD 524,000 Debt Through Share Issuance

Bitget2026/10/22 11:31

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Horizon Petroleum completed a CAD 524,000 debt-for-shares settlement at a deemed price of CAD 0.175 per common share.
Directors and officers will receive 2,657,143 common shares to settle CAD 465,000 of debt.
Arm’s-length service providers will receive 337,143 common shares to settle CAD 59,000 of debt.
A proposed secured grid promissory note with Wilco Investments would provide up to CAD 2 million at 12% annual interest.
The note and accrued interest mature December 31, 2026; repayment accelerates upon completion of financing of CAD 5 million or more.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Horizon Petroleum Ltd. published the original content used to generate this news brief via CNW (Ref. ID: 202610220730CANADANWCANADAPR_C4521) on October 22, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Horizon Petroleum Settles CAD 524,000 Debt Through Share Issuance

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