Jersey, Channel Islands, December 4, 2014
Horizon Petroleum plc (the “Company”) (TSXV: HPL), is pleased to announce that it has filed its annual audited financial statements and related Management’s Discussion and Analysis (“MD&A”) for the year ended August 31, 2014 on SEDAR. The financial statements and MD&A are available on SEDAR at www.sedar.com and on the Company’s website.
The Company intends to apply to have certain of its outstanding share purchase warrants re-priced. There are 13,333,302 warrants outstanding exercisable at $0.45. The Company will seek TSX Venture Exchange approval to re-price 12,811,053 of those warrants at $0.15 (excluding 522,249 warrants held by insiders). The Warrants will also be amended such that the exercise period may be reduced to 30 days if, for any ten consecutive trading days, the closing price of the Company’s shares equals or exceeds $0.19 per share.
Upon confirmation of the re-pricing application from the TSX Venture Exchange, the Company will issue an update.
ON BEHALF OF HORIZON PETROLEUM PLC
Director and Chairman
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.