- Horizon Minerals (HRZ) has received binding commitments to raise $16.1 million in capital via a placement
- The company said the placement was heavily oversubscribed after strong support from new and existing institutional and sophisticated investors
- As a result of the strong interest, the Horizon board decided to increase the size of the placement
- 115 million fully paid ordinary shares will be issued, with all of the shares priced at 14 cents each
- Meanwhile, Horizon said the capital raised will go towards funding its largest-ever exploration program
- Shares in Horizon are trading down 13.5 per cent for 16 cents each
