CALGARY, AB — February 6, 2026 — Leads & Copy — Horizon Petroleum Ltd. (TSXV: HPL) announced on January 8, 2026, that the Alberta Securities Commission (ASC) issued a temporary and voluntary management cease trade order (MCTO) at the company’s request.
The MCTO was issued under NP 12-203 due to a delay in filing the company’s annual audited financial statements for the year ended August 31, 2025, and other periodic disclosures required by section 4.2 of National Instrument 51-102 – Continuous Disclosure Obligations (NI 51-102).
The delayed filings also include the Management Discussion & Analysis for the year ended August 31, 2025, as required by section 5.1(2) of NI 51-102, and the certification of the annual filings for the same period. These filings, collectively referred to as the “Annual Filings,” were due by December 29, 2025.
The MCTO restricts the company’s CEO and CFO from trading in and acquiring the company’s securities, directly or indirectly, until two full business days after the ASC receives the required filings. However, the MCTO does not prevent other shareholders or investors from trading in the company’s securities.
Horizon Petroleum and its auditor are working to complete the Annual Filings as soon as possible, with a target filing date of February 16, 2026.
In compliance with NP 12-203, Horizon Petroleum Ltd. will issue bi-weekly default status reports via news releases during the MCTO period. The company confirms that since January 8, 2026: (i) there have been no material changes to the information in the initial MCTO announcement; (ii) the company has fulfilled its stated intentions regarding the alternative information guidelines in NP 12-203; (iii) there have been no other specified defaults by the company under NP 12-203; and (iv) there is no other undisclosed material information about the company’s affairs.
Until the Annual Filings are submitted and during the MCTO period, the company will adhere to the alternative information guidelines as required by NP 12-203.
Horizon Petroleum Ltd. is focused on the appraisal and development of conventional oil and natural gas resources onshore Europe. Its management and board consist of oil and natural gas professionals with international experience.
This press release contains forward-looking statements that are subject to various risks and uncertainties. The company cautions that actual results may differ materially from those anticipated in such statements due to factors including changes in market conditions, commodity prices, regulatory approvals, and risks in the oil and gas industry.
The company does not intend to update or revise any forward-looking information, except as required by securities laws.
Source: Horizon Petroleum Ltd.
