Shareholders Letter Horizon Share Purchase Plan
The SPP follows Horizon's institutional placement announced on 24 June 2022 which raised $4,000,000 before costs by issuing placement shares at 9 cents per share. The free attaching options are to be issued by the Placement Options Offer under the prospectus to the placees on the basis of 1 attaching option for every 1 share subscribed for. The options have an exercise price of 11 cents and an expiry date of 30 June 2025.
The SPP shares and options will be issued on the same terms as the placement securities. The SPP shares are offered at 9 cents per share and the free attaching options on the basis of 1 attaching option for every 1 share subscribed for. The options, as with the placement options, have an exercise price of 11 cents and an expiry date of 30 June 2025. Horizon is seeking to raise up to $2,000,000 by the SPP Offer. The SPP securities are being offered by the prospectus.
Eligible shareholders may apply for SPP shares ranging from a minimum value of $2,000 up to a maximum value of $30,000. The SPP Offer opens on 1 July 2022 and closes on 15 July 2022.
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