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Horizon Gold Limited (ASX:HRN)

ALERT: Price-sensitive ASX Announcement for HRN
Current share price for HRN : $1.030 0.53 (106%)+
Announcement
Release
25 Aug 2025 9:09AM
Price at Release
$0.500
Full Release
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Summary
Horizon Gold Limited has announced the successful closure of its non-renounceable pro-rata entitlement issue. Eligible shareholders were offered one new share for every five shares held at an issue price of $0.13 per share, raising approximately $2.3 million before costs. The entitlement offer closed on 13 June 2024, and the company received valid applications for 12,187,004 new shares, representing a significant subscription rate. The new shares are expected to be issued and commence trading on 20 June 2024. The funds raised will be used to advance exploration activities at the Gum Creek Gold Project, as well as for working capital and offer expenses. Directors and key management have participated in the entitlement issue, demonstrating confidence in the company's prospects. Any shortfall shares will be allocated at the discretion of the directors. The company appreciates the support shown by its shareholders and remains focused on delivering value through its exploration and development activities.
Key Points
  • Horizon Gold Limited has completed a non-renounceable pro-rata entitlement issue.
  • Shareholders were offered one new share for every five shares held at $0.13 per share.
  • The entitlement issue raised approximately $2.3 million before costs.
  • The offer closed on 13 June 2024 with subscriptions for 12,187,004 new shares.
  • New shares are expected to be issued and start trading on 20 June 2024.
  • Funds will be used for the Gum Creek Gold Project, working capital, and offer costs.
  • Directors and management have participated, indicating confidence in the company.
  • Shortfall shares will be allocated at the directors' discretion.
  • The company thanks shareholders for their ongoing support.
  • Horizon Gold remains focused on exploration and development efforts.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.