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Horizon Minerals Limited (ASX:HRZ) Finance Agreements for US$5m Executed to Advance Cannon Gold Project

on 11/22/2022
Horizon Minerals Limited (ASX:HRZ) is pleased to advise further to the announcement of 19 October 2022 ("Funding Agreed to Advance Cannon Gold Project") that the Company has executed a detailed Loan Agreement and General Security Deed with Nebari Partners LLC ("Nebari") for a US$5 million secured credit facility. The credit facility is comprised of a two tranche Convertible Loan Facility with US$2 million in Tranche 1 and US$3 million in Tranche 2.

The Facility is subject to conditions precedent typical for a transaction of this nature including, but not limited to, obtaining prior shareholder approval which scheduled for the upcoming Annual General Meeting on 25 November 2022 @ 2pm.

Proceeds from the Facility will immediately be used to settle the A$2.1 million deferred Cannon payment to Aurenne and to contribute to the upfront capital costs of the proposed Cannon underground mine.

About Nebari

Nebari is a United States-based manager of privately offered pooled investment vehicles including Nebari Natural Resources Credit Fund I, LP and Nebari Gold Fund 1, LP, which are funding this transaction. The leadership team has deep experience with leading global mining companies and financial institutions. Nebari is known for partnering with motivated and capable management teams focused on achieving clear plan targets.

To view the Convertible Loan Facility key terms, please visit:

Jon Price 
Managing Director
T: +61 8 9386 9534 

Michael Vaughan 
Media Relations - Fivemark Partners 
T: +61 422 602 720 

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