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Horizon Minerals: Raises $16.1M via placement

August 14, 2020

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