Latest news with #61
Cision Canada
13-05-2025
- Business
- Cision Canada
HORIZON PETROLEUM LTD. ANNOUNCES DEBENTURE UNIT OFFERING
CALGARY, AB, May 13, 2025 /CNW/ - Horizon Petroleum Ltd. (TSXV: HPL) ("Horizon" or the "Company") is pleased to announce that, subject to TSX Venture Exchange acceptance, it intends to complete a non-brokered private placement of up to 720,000 debenture units of the company at a price of $1 per unit, for aggregate gross proceeds of up to $720,000. Each unit consists of an aggregate of $1 principal amount of secured subordinated debentures and 5 common share purchase warrants. The debentures will mature one year following the closing of the offering and are not convertible into equity securities of the company. The debentures will bear interest at a rate of 15 per cent per annum until the maturity date. The company may prepay the debentures at any time prior to the maturity date. Each warrant is exercisable into one common share in the capital of the company at a price of $0.20 per share for a period of one year from the closing of the offering. The company intends to use the proceeds from the offering for the purchase of long lead items for its planned workover operations in the initial development of the Lachowice gas field in southern Poland, and for general working capital purposes, general and administrative expenses. All securities issued under the offering, including securities issuable on exercise thereof, are subject to a hold period expiring four months and one day from the date hereof. Multilateral Instrument 61-101 – Related Party Transactions The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(b) and 5.7(1)(a) of MI 61- 101, as the fair market value of the participation in the Debenture Unit Offering by Directors and Officers does not exceed 25% of the market capitalization of the Company, as determined in accordance with MI 61-101. The Company did not file a material change report in respect of the related party transaction at least 21 days before the anticipated closing of the Debenture Unit Offering, which the Company deems reasonable in the circumstances to complete the Debenture Unit Offering in an expeditious manner. The offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange. 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. Neither 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. This press release contains forward-looking statements pertaining to, among other things, the anticipated use of proceeds, the completion of the offering, and the approval of the TSX-V. Forward-looking information is based on current expectations, estimates and projections that involve a number of risks, which could cause actual results to vary and in some instances, to differ materially from those anticipated by Horizon and described in the forward-looking information contained in this press release. Although Horizon believes that the material factors, expectations and assumptions expressed in such forward-looking statements are reasonable based on information available to it on the date such statements were made, no assurances can be given as to future results, levels of activity and achievements and such statements are not guarantees of future performance. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration is available. SOURCE Horizon Petroleum Ltd.
Yahoo
13-05-2025
- Business
- Yahoo
HORIZON PETROLEUM LTD. ANNOUNCES DEBENTURE UNIT OFFERING
CALGARY, AB, May 13, 2025 /CNW/ - Horizon Petroleum Ltd. (TSXV: HPL) ("Horizon" or the "Company") is pleased to announce that, subject to TSX Venture Exchange acceptance, it intends to complete a non-brokered private placement of up to 720,000 debenture units of the company at a price of $1 per unit, for aggregate gross proceeds of up to $720,000. Each unit consists of an aggregate of $1 principal amount of secured subordinated debentures and 5 common share purchase warrants. The debentures will mature one year following the closing of the offering and are not convertible into equity securities of the company. The debentures will bear interest at a rate of 15 per cent per annum until the maturity date. The company may prepay the debentures at any time prior to the maturity date. Each warrant is exercisable into one common share in the capital of the company at a price of $0.20 per share for a period of one year from the closing of the offering. The company intends to use the proceeds from the offering for the purchase of long lead items for its planned workover operations in the initial development of the Lachowice gas field in southern Poland, and for general working capital purposes, general and administrative expenses. All securities issued under the offering, including securities issuable on exercise thereof, are subject to a hold period expiring four months and one day from the date hereof. Multilateral Instrument 61-101 – Related Party Transactions The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(b) and 5.7(1)(a) of MI 61- 101, as the fair market value of the participation in the Debenture Unit Offering by Directors and Officers does not exceed 25% of the market capitalization of the Company, as determined in accordance with MI 61-101. The Company did not file a material change report in respect of the related party transaction at least 21 days before the anticipated closing of the Debenture Unit Offering, which the Company deems reasonable in the circumstances to complete the Debenture Unit Offering in an expeditious manner. The offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange. 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. Neither 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. This press release contains forward-looking statements pertaining to, among other things, the anticipated use of proceeds, the completion of the offering, and the approval of the TSX-V. Forward-looking information is based on current expectations, estimates and projections that involve a number of risks, which could cause actual results to vary and in some instances, to differ materially from those anticipated by Horizon and described in the forward-looking information contained in this press release. Although Horizon believes that the material factors, expectations and assumptions expressed in such forward-looking statements are reasonable based on information available to it on the date such statements were made, no assurances can be given as to future results, levels of activity and achievements and such statements are not guarantees of future performance. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration is available. SOURCE Horizon Petroleum Ltd. View original content to download multimedia: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Zawya
27-02-2025
- Business
- Zawya
Dubai real estate market sees first price drop in two years
Dubai real estate prices fell by 0.57% in January 2025 – the first decline since summer 2022 – signalling a market shift towards stabilisation, according to leading real estate intelligence authority Property Monitor. While the first month of 2025 was the strongest January on record for transactions with 14,413 sales, average prices dropped to AED1,484 per sq ft. Sales volumes were down 4.6% compared to December 2024, stated Property Monitor in its monthly market report. Off plan launches continued to soar in January, with 53 launches from 37 developers bringing another 12,400 units to the market. Mortgage transactions also rose 6.8% month on month, with 4,134 loans secured. Loan to value (LTV) ratios also held steady despite stricter enforcement of UAE Central Bank regulations, it stated. Zhann Jochinke, the Chief Operating Officer, Property Monitor, said: "After four years of continuous growth, Dubai's real estate market is starting to show signs of stabilisation. While the total number of transactions remains strong, affordability constraints and market maturity are beginning to shape the landscape." "With sales volumes and mortgage transactions moderating, Dubai's property sector could be transitioning from a continued phase of rapid growth to a more sustainable trajectory. A careful balance of supply and demand will determine the future of the market in 2025 and beyond," he added. The Property Monitor January report shows that the median price for apartments was AED1.35 million with townhouses at AED2,61,000 and villas at AED6,915,888. With 7,555 transactions, the off-plan market accounted for 52% of sales during January, down 17.7% on December 2024, it stated. Meanwhile, the title deed sales saw a marked month-on-month increase, rising by 15.7% and accounting for 47.6% of sales. According to Property Monitor, Emaar Properties claimed the top spot for off-plan transactions, with a market share of 16.5%, followed by Damac Properties at 15.8% and Danube Properties at 5.3%. A villa in Emirates Hills secured the highest recorded sale, with a price tag of AED425 million. The lowest, at AED175,000 was for a studio apartment at Dubai Production City, it added.- TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Trade Arabia
27-02-2025
- Business
- Trade Arabia
Dubai real estate market sees first price drop in two years
Dubai real estate prices fell by 0.57% in January 2025 – the first decline since summer 2022 – signalling a market shift towards stabilisation, according to leading real estate intelligence authority Property Monitor. While the first month of 2025 was the strongest January on record for transactions with 14,413 sales, average prices dropped to AED1,484 per sq ft. Sales volumes were down 4.6% compared to December 2024, stated Property Monitor in its monthly market report. Off plan launches continued to soar in January, with 53 launches from 37 developers bringing another 12,400 units to the market. Mortgage transactions also rose 6.8% month on month, with 4,134 loans secured. Loan to value (LTV) ratios also held steady despite stricter enforcement of UAE Central Bank regulations, it stated. Zhann Jochinke, the Chief Operating Officer, Property Monitor, said: "After four years of continuous growth, Dubai's real estate market is starting to show signs of stabilisation. While the total number of transactions remains strong, affordability constraints and market maturity are beginning to shape the landscape." "With sales volumes and mortgage transactions moderating, Dubai's property sector could be transitioning from a continued phase of rapid growth to a more sustainable trajectory. A careful balance of supply and demand will determine the future of the market in 2025 and beyond," he added. The Property Monitor January report shows that the median price for apartments was AED1.35 million with townhouses at AED2,61,000 and villas at AED6,915,888. With 7,555 transactions, the off-plan market accounted for 52% of sales during January, down 17.7% on December 2024, it stated. Meanwhile, the title deed sales saw a marked month-on-month increase, rising by 15.7% and accounting for 47.6% of sales. According to Property Monitor, Emaar Properties claimed the top spot for off-plan transactions, with a market share of 16.5%, followed by Damac Properties at 15.8% and Danube Properties at 5.3%. A villa in Emirates Hills secured the highest recorded sale, with a price tag of AED425 million. The lowest, at AED175,000 was for a studio apartment at Dubai Production City, it added.-
The Independent
27-02-2025
- The Independent
Romance scam victim loses £22,000 to AI ‘girlfriend'
A man in China lost nearly £22,000 to a dating scam after getting into a 'long-distance relationship' with an AI 'girlfriend', state media reported. The man, identified by his surname Liu, thought he was in a relationship with a girl called Ms Jiao, who interacted with and sent him pictures and videos online. Little did the man from Shanghai city know that Ms Jiao was merely a fictional character being used to dupe him out of his money. The scammers used generative artificial intelligence to create the fictional persona of Ms Jiao and then convince Mr Liu that the woman needed money to pay medical bills and fund a business, CCTV News reported. They scammed him out of 200,000 yuan, or about £21,722. A police investigation revealed that the "scammer team' sent Mr Liu 'videos and photos that were all created through AI or made by combining multiple images". They also created fake medical and reports bills to manipulate the victim into believing his 'girlfriend' was in urgent need of financial assistance. 'Throughout the process, Mr Liu never met Ms Jiao in person,' the report noted. AI scams have become a growing global concern, with criminals exploiting the technology to impersonate real individuals or create entirely fictional personas for financial fraud. There have been many AI romance scams in recent years wherein perpetrators create highly realistic digital personas to exploit victims emotionally and financially. In January, scammers stole £6,61,508 from a French woman, 53, after convincing her that she was in a romantic relationship with Hollywood actor Brad Pitt. The scammers used fake messages and AI videos to dupe the woman, leading her to divorce her husband and suffer significant financial loss. In November last year, a British woman in her 60s was conned out of £19,752 by a scammer posing as a US army colonel named "Mike Murdy" on Tinder. The fraudster used realistic AI videos and images to establish credibility, persuading her to send substantial funds under various pretenses. In 2023, an Arizona mother reported that scammers had used AI to replicate her daughter's voice in an attempt to extort $1m (£7,90,086) from her.
