Horizon Petroleum Ltd. (“Horizon” or the “Company”) (TSXV: HPL) is pleased to announce that it has entered into an arrangement agreement (the “Arrangement Agreement”) with privately-held, Calgary-based Iskander Energy Corporation (“IEC”), pursuant to which Horizon will, subject to certain conditions, acquire all of the issued and outstanding common shares of IEC (“IEC Shares”) in exchange for 55,373,072 pre-consolidated shares of Horizon at a deemed value of $0.05 per share (the “Transaction”) by way of a plan of arrangement (“Plan of Arrangement”) under the Business Corporations Act (Alberta) (“ABCA”).
Horizon Petroleum announcement- April 2016
