Jersey, Channel Islands, December 17, 2014
Horizon Petroleum plc (the “Company”) (TSXV: HPL) reports that it is continuing its efforts to close the financing announced on November 4, 2014. As announced, the Company anticipates completing a non-brokered private placement for aggregate gross proceeds of up to $800,000, through the distribution of units at $0.05 per unit; each unit consisting of one share plus ½ warrant with each whole warrant exercisable at $0.075 per share for 24 months. The private placement will be subscribed for by new and existing management and Board members, consultants, their associates, and others.
Funds raised under the private placement will be used to continue the Company’s pursuit of oil & gas exploration and development opportunities in Africa, and for general working capital purposes.
ON BEHALF OF HORIZON PETROLEUM PLC
Interim Chief Executive Officer
Neither the 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.