HORIZON PETROLEUM LTD ("HPL") BULLETIN TYPE: Shares for Debt BULLETIN DATE: May 24, 2016 TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing the Company's proposal to issue 3,040,000 shares to settle outstanding debt of $152,000 related to settlement of outstanding directors fees.
Number of Creditors: 3 Creditors
Insider / Pro Group Participation:
Insider=Y / Amount Deemed Price Creditor Progroup=P Owing per Share # of Shares
Yogeshwar Sharma Y $76,000 $0.05 1,520,000
Charle Gamba Y $38,000 $0.05 760,000
W. Derek Aylesworth Y $38,000 $0.05 760,000
The Company shall issue a news release when the shares are issued and the debt extinguished. ________________________________________
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