CALGARY,
AB, April 11, 2024 /CNW/ - Horizon
Petroleum Ltd. (the "Company" or "Horizon") (TSXV: HPL.H): The
Company reports the grant of a total of 1,040,000 stock options to
the Board, Management and Advisors at a price of $0.075, which shall vest as to 1/3rd
on the date of grant, 1/3rd after 12 months, and the
final 1/3rd after 24 months; the stock options expire 5
years from the effective date of grant, April 9, 2024. These options are
being granted under the Company's stock option plan, and are
subject to the acceptance of the TSX Venture Exchange.
Please refer to the management information circular of the
Company dated February 5, 2024
available on SEDAR at www.sedar.com under the Company's profile
for a copy and summary of the Company's stock option plan.
The stock option grant is subject to regulatory approval.
The Company has determined that exemptions from the various
requirements of TSX Venture Exchange Policy 5.9 are available for
the grant of stock options to each of the individuals. The
Company has further determined that an exemption from the various
requirements of Multilateral Instrument 61-101 is available as the
fair market value of the grant of options is less than 25% of the
market capitalization of the Company.
About Horizon Petroleum
Ltd.
Calgary-based Horizon is
focused on the appraisal and development of natural gas reserves
and clean energy sources to increase energy independence and
security in Europe. The Management
and Board of Horizon consist of oil & gas, business and finance
professionals with significant international experience.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
This press release contains "forward-looking statements" or
"forward-looking information" (collectively referred to herein as
"forward-looking statements") within the meaning of applicable
securities legislation. Such forward-looking statements include,
without limitation, forecasts, estimates, expectations and
objectives for future operations that are subject to a number of
assumptions, risks and uncertainties, many of which are beyond the
control of Horizon. Forward-looking statements are statements that
are not historical facts and are generally, but not always,
identified by the words "expects", "plans", "anticipates",
"believes", "intends", "estimates", "projects", "potential" and
similar expressions, or that events or conditions "will", "would",
"may", "could" or "should" occur or be achieved. This press release
contains forward-looking statements pertaining to, among other
things entering into the Definitive Agreements and completion of
the transaction, and the furtherance of Horizon's European
acquisition and development strategy.
Forward-looking information is based on current expectations,
estimates and projections that involve a number of risks, which
could cause actual results to vary and in some instances to differ
materially from those anticipated by Horizon and described in the
forward-looking information contained in this press
release.
Although Horizon believes that the material factors,
expectations and assumptions expressed in such forward-looking
statements are reasonable based on information available to it on
the date such statements were made, no assurances can be given as
to future results, levels of activity and achievements and such
statements are not guarantees of future performance.
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SOURCE Horizon Petroleum Ltd.
