Sale Complete of Ineligible Shareholdings from POS Merger
Perth, Mar 17, 2025 AEST (ABN Newswire) - Horizon Minerals Limited (
ASX:HRZ) wishes to provide an update on the Ineligible and unmarketable Shareholdings from the Poseidon Nickel Ltd merger, which have now all been sold.
Computershare Investor Services and the Company have received confirmation from Argonaut Securities Limited that the sale of all Unmarketable Parcels to the value of $500 or less and all Ineligible Foreign Shareholdings, as disclosed in the Scheme Booklet, has now been completed, and a scheduled distribution of the proceeds will occur on Friday 21 March 2025.
- An amount of $1,263,929.90 from the share sales will now be distributed to the participants being the net proceeds confirmed by Argonaut Securities Limited.
- Based on the sale of 20,588,030 shares through the share sale facility and the total proceeds of $1,263,930.20 the amount to be distributed will be $0.0613915 per Horizon Share sold (after rounding each holder to the nearest cent). The number of Horizon shares sold in the sale facility was 0.1156 Horizon shares for every 1 Poseidon share held on the Scheme Record Date
About Horizon Minerals Limited
Horizon Minerals Limited (ASX:HRZ) is a gold exploration and mining company focussed on the Kalgoorlie and Menzies areas of Western Australia which are host to some of Australia's richest gold deposits. The Company is developing a mining pipeline of projects to generate cash and self-fund aggressive exploration, mine developments and further acquisitions. The Teal gold mine has been recently completed.
Horizon is aiming to significantly grow its JORC-Compliant Mineral Resources, complete definitive feasibility studies on core high grade open cut and underground projects and build a sustainable development pipeline.
Horizon has a number of joint ventures in place across multiple commodities and regions of Australia providing exposure to Vanadium, Copper, PGE's, Gold and Nickel/Cobalt. Our quality joint venture partners are earning in to our project areas by spending over $20 million over 5 years enabling focus on the gold business while maintaining upside leverage.
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