CALGARY, AB, March 6, 2026 – Horizon Petroleum Ltd. (TSXV: HPL) (“Horizon” or the “Company”) reported that on January 8, 2026, following a request from the Company, the Alberta Securities Commission (the “ASC”) issued a temporary, voluntary management cease trade order (the “MCTO”) against the Company pursuant to NP 12-203. This action was related to the delayed submission of its:
- Annual Audited Financial Statements for the fiscal year ended August 31, 2025, along with other mandated periodic disclosures under section 4.2 of National Instrument 51-102 – Continuous Disclosure Obligations (“NI 51-102”);
- Management Discussion & Analysis for the year ended August 31, 2025, as stipulated by section 5.1(2) of NI 51-102;
- Certification of the annual filings for the year ended August 31, 2025.
(Collectively referred to as the “Annual Filings”).
The Annual Filings were submitted on Monday, March 2, and the ASC has informed the Company that the MCTO was lifted effective March 5, 2026.
ABOUT HORIZON
Headquartered in Calgary, Horizon is dedicated to the evaluation and development of conventional oil and natural gas resources in onshore Europe. The Company’s Management and Board are composed of oil and gas professionals possessing substantial international experience.
Forward-Looking Information
This press release includes forward-looking information as defined by Canadian securities laws (collectively “forward-looking statements”). Terms such as believe, expect, anticipate, intend, estimate, plans, postulate, and similar phrases, or statements that inherently refer to future events, typically identify forward-looking statements. Any statement that is not a historical fact may be a forward-looking statement. Examples in this release include, but are not limited to, statements concerning the Offering, the Company’s operations in Poland and its potential for success, generating shareholder value, scheduled drilling, and the start of operations. While the Company considers these forward-looking statements to be reasonable, it cannot guarantee that the expectations and assumptions underlying them will be accurate. Actual outcomes may differ materially due to factors such as volatility in equity and debt markets, changes in commodity prices, delays in securing necessary regulatory or governmental approvals, and other risks inherent in the oil and gas exploration and development sector, including those detailed in the Company’s management’s discussion and analysis filed on its profile. The forward-looking information presented is based on management’s opinions and assumptions deemed reasonable as of the date of this release, including the timely receipt of all required governmental and regulatory approvals. Although the Company believes the assumptions and factors used in preparing this forward-looking information are reasonable, undue reliance should not be placed on it. The Company disclaims any intent or obligation to update or revise any forward-looking information, except as mandated by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Horizon Petroleum Ltd.