CALGARY, AB — January 8, 2026 — Leads & Copy — Horizon Petroleum Ltd. (TSXV: HPL) has received a management cease trade order (MCTO) from the Alberta Securities Commission, its principal regulator.
The MCTO restricts the company’s management from trading in its securities until the company files its annual financial reports and the MCTO is lifted. However, the MCTO does not prevent other shareholders from trading in the company’s securities.
Horizon anticipates that it will file its annual reports by February 16, 2026, and confirms that its auditor is working diligently to complete them as quickly as possible.
The company applied for the MCTO due to an expected delay in filing its audited consolidated financial statements for the year ended August 31, 2025, its annual management’s discussion and analysis for the same period, and management certifications of annual filings.
Horizon confirms that since December 29, 2025, the date of the announcement regarding the expected delay: (i) there has been no material change to the information set out in the announcement that has not been generally disclosed; (ii) the company is satisfying and confirms that it intends to continue to satisfy the provisions of the “alternative information guidelines” under National Policy 12-203 – Management Cease Trade Orders and issue bi-weekly default status reports for so long as the delay in filing the Annual Filings continues, each of which will be issued in the form of a news release; (iii) there has not been any other specified default by the company under NP 12-203; (iv) the company is not subject to any insolvency proceedings; and (v) there is no material information concerning the affairs of the company that has not been generally disclosed.
Horizon Petroleum Ltd. is focused on the appraisal and development of conventional oil & natural gas resources onshore Europe. The company’s management and board consist of oil & natural gas professionals with significant international experience.
Source: Horizon Petroleum Ltd.
