Private Placement Financing Closed
VANCOUVER, British Columbia – February 2, 2010 – PETRO HORIZON ENERGY CORP. (TSXV.PHE), is pleased to announce the Company has closed and the TSX Venture Exchange has accepted for filing, the non-brokered private placement referred to in the Company’s news release dated January 14th 2010.
The private placement announced for 3,200,000 units at a price of $.065 per unit has been fully subscribed and the company has also filled the over allotment of an additional 320,000 units, for total gross proceeds of $228,800.00. Each unit will consist of one common share and one two year share purchase warrant. Each share purchase warrant will entitle the holder thereof to purchase one additional common share of the Company from the closing of the private placement. The price per share purchase warrant will be $0.10 per share during the first year, or $0.12 per share during the second year term.
The proceeds of this financing will be used to general working capital and new prospects.
On Behalf of the board of directors,
“Ron Bourgeois”
Ron Bourgeois, President
Total number of Hidden Placees is 21 Insiders: Ron Bourgeois 400,000 units
Pro Group: Anthony Fierro 200,000 units, Fadia Rahal 50,000 units Greg Nelson 50,000 units Ian MacPherson 50,000 units, Ivano Vesshini 50,000 units James Oleynick 50,000 units, Raymond Martin 100,000 units, Monty Montaine 100,000 units.
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.
Suite 1710 – 1040 West Georgia Street Vancouver, B.C., V6E 4H1
For further information: Petro Horizon Energy Corp, Vancouver, BC, Tel: (604) 488-3900, email: [email protected]