Horizon Petroleum terminates offering

* Horizon Petroleum (TSXV:HPL:CA [https://seekingalpha.com/symbol/HPL:CA]) said on Monday that it will not be proceeding [https://seekingalpha.com/pr/20239309-horizon-petroleum-ltd-announces-termination-of-offering] with its previously announced offering as certain conditions of the offering were not met by the required dates.
* The company had delivered an amended and restated undertaking to the Executive Director of the Alberta Securities Commission in connection with the company's final short form base shelf prospectus dated May 22, 2025.
* The Amended Undertaking provided the company up to 120 days from the date of the ASC's final receipt for the Base Shelf Prospectus to raise minimum aggregate gross proceeds of at least C$6.66M by way of private placement, prospectus supplement under the Base Shelf Prospectus, or a combination thereof.
* As Horizon has been unable to raise the minimum amount before September 20, 2025, the company has withdrawn the Base Shelf Prospectus and will not issue any securities pursuant thereto. The company and the agents have terminated the offering.
* The Company will continue to pursue financing opportunities for its projects in Poland and is in discussions with financial institutions in Europe to raise the capital required to fund the development of the Lachowice gas field.

MORE ON HORIZON PETROLEUM LTD.

* Financial information for Horizon Petroleum Ltd. [https://seekingalpha.com/symbol/HPL:CA/income-statement]