HORIZON PETROLEUM LTD.
Suite 1500 – 700 4th Ave S.W.
Calgary, AB, Canada T2P 3J4
Horizon Petroleum Ltd. (the “Company” or “Horizon”) (TSXV: HPL) announces that, further to its news release dated April 24, 2017, the TSX Venture Exchange has approved a share consolidation of its common shares (the “Common Shares”) on a six (6) old for one (1) new basis.
The effective date of the share consolidation will be at market open on Tuesday, May 9, 2017, Accordingly, the Company will have approximately 25,360,609 shares issued and outstanding. The Company’s new CUSIP and ISIN numbers are 44053J201 and CA44053J2011 respectively. The trading symbol of the Company will remain “HPL”.
No fractional Common Shares will be issued, and no cash will be paid in lieu of fractional post-consolidation Common Shares. The number of post-consolidation Common Shares to be received by a shareholder will be rounded down to the nearest whole Common Share.
Letters of transmittal with respect to the consolidation will be mailed to all registered shareholders of the Company. All shareholders who submit a duly completed letter of transmittal along with their respective share certificate(s) representing the pre-consolidated Shares to the Company’s transfer agent, Computershare Trust Company of Canada, will receive a share certificate representing the post–consolidated Shares.
Horizon has identified and is in the final stages of evaluation and negotiation to acquire interests in a number of gas development opportunities that offer near term gas production. The Company will update shareholders in due course.
About Horizon Petroleum Ltd.
Calgary-based Horizon is focused on the appraisal and development of oil & gas resources in Europe. The Management and Board of Horizon consist of oil & gas professionals with significant international experience.
For further information about the Company, please contact:
Dr. David Winter
President & CEO
+1 403 619 2957
David R. Robinson
VP Business Development
+1 403 399-9047
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, the completion of the Private Placement, the Appointment and the Assignment as well as any future development activities or changes to the estimated abandonment liability.
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.