Issue of Tranche 1 Placement Shares
Perth, Mar 31, 2023 AEST (ABN Newswire) - On 30 March 2023, Horizon Minerals Limited (ASX:HRZ) announced that it had received firm bids under its institutional placement ("Placement") to place approximately 74.1 million fully paid ordinary shares in the Company ("Placement Shares") at $0.045 per share to raise approximately $3.34 million.
The Company has today issued 61,293,016 Placement Shares for $2.758 million pursuant to ASX Listing Rule 7.1 ("Tranche 1 Placement Shares"). No shareholder approval is required for the issue of shares. The second tranche of Placement Shares, to raise the remaining funds under the Placement, will be issued on Tuesday 4 April 2023 upon receipt of funds via DvP.
For further details on the issue of Placement Shares please refer to the Company's ASX announcement "Horizon Announces Placement to Advance Cannon and Accelerate Drilling at Cannon, Penny's Find" dated 30 March 2023.
About Horizon Minerals Limited
Horizon Minerals Limited (ASX:HRZ) is a gold exploration and mining company focussed on the Kalgoorlie and Menzies areas of Western Australia which are host to some of Australia's richest gold deposits. The Company is developing a mining pipeline of projects to generate cash and self-fund aggressive exploration, mine developments and further acquisitions. The Teal gold mine has been recently completed.
Horizon is aiming to significantly grow its JORC-Compliant Mineral Resources, complete definitive feasibility studies on core high grade open cut and underground projects and build a sustainable development pipeline.
Horizon has a number of joint ventures in place across multiple commodities and regions of Australia providing exposure to Vanadium, Copper, PGE's, Gold and Nickel/Cobalt. Our quality joint venture partners are earning in to our project areas by spending over $20 million over 5 years enabling focus on the gold business while maintaining upside leverage.
Horizon Minerals Limited