Petro Horizon Revises Non-Brokered Private Placement
VANCOUVER, British Columbia – January 18, 2010 – PETRO HORIZON ENERGY CORP. (TSXV.PHE), announces that the Company’s non-brokered private placement previously announced in the Company’s news release dated December 21, 2009, has been amended. The private placement will consist of up to 3,200,000 units in the capital stock of the Company at a price of $0.065 per unit for total gross proceeds of up to $208,000. Each unit will now consist of one common share and one full share purchase warrant, as compared to one half share purchase warrant as previously announced. Each one share purchase warrant will entitle the holder thereof to purchase one additional share of the Company at a price of $0.10 per share during the first year or at a price of $0.12 per share during the second year from the date of the closing of the private placement. The shares are subject to a four month hold period. This private placement is subject to approval by the TSX Venture Exchange.
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
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: