CALGARY, AB, Feb. 6, 2026 /CNW/ – Horizon Petroleum Ltd. (TSXV: HPL) (“Horizon” or the “Company”) On January 8, 2026 the Company announced that, at the request of the Company, the Alberta Securities Commission (the “ASC”) issued a temporary and voluntary management cease trade order (the “MCTO”) against the Company under NP 12-203 in connection with the Company’s delayed filing of its:
Horizon Petroleum Ltd. Logo (CNW Group/Horizon Petroleum Ltd.)
Annual Audited Financial Statements for the year ended August 31, 2025, and other periodic disclosures as required by 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 required by section 5.1(2) of NI 51-102;
Certification of the annual filings for the year ended August 31, 2025.
(Collectively, the “Annual Filings”).
The Annual Filings were required to be filed by December 29, 2025.
The MCTO prohibits the Company’s Chief Executive Officer and Chief Financial Officer from trading in and acquisitions of, whether directly or indirectly, securities of the Company until two full business days following receipt by the ASC of the Required Filings. The MCTO does not restrict or affect the ability of other shareholders or investors to trade in the Company’s securities.
The Company and its auditor continue to work diligently toward completing the Annual Filings as soon as possible with the goal of filing the Annual Filings by February 16, 2026.
Pursuant to NP 12-203, Horizon Petroleum Ltd. must file bi-weekly default status reports by way of news releases during the period of the MCTO. Other than as disclosed herein, the Company confirms that since January 8, 2026: (i) there has been no material change to the information contained in the press release issued by the Company announcing the issuance of the MCTO; (ii) there has been no failure to fulfill its stated intentions with respect to satisfying the provisions of the alternative information guidelines set out in NP 12-203; (iii) there has not been any other specified default subsequent by the Company under NP 12-203; and (iv) there is no other material information concerning the affairs of the Company that has not been generally disclosed.
Until the filing of the Annual Filings and during the period of the MCTO, the Company will follow the provisions of the alternative information guidelines as required by NP 12-203.
ABOUT HORIZON
Calgary-based Horizon is focused on the appraisal and development of conventional oil & natural gas resources onshore Europe. The Management and Board of Horizon consist of oil & natural gas professionals with significant international experience.
