Horizon Petroleum's Proposal for Debt Resolution
Horizon Petroleum's Debt Settlement Proposal
Horizon Petroleum Ltd. (the "Company" or "Horizon") (TSXV: HPL) is proposing to address certain outstanding debts owed to management and payments for directors. This proposal, referred to as the Insider Debt Transaction, involves the issuance of shares to settle these financial obligations.
Key Points of the Proposal
- Debt amount includes fees and management compensation.
- Shares will be issued to reduce cash outflow.
- This measure is designed to bolster the company’s balance sheet.
Conclusion
This strategic move by Horizon Petroleum reflects an effort to improve its financial stability. By opting for a share issuance rather than cash payment, the company aims to manage its debt more effectively while positioning itself for future growth.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.