Horizonte Minerals announces that it has been unable to secure interest in the full financing needed to complete its Araguaia Nickel Project. The company is now considering alternative options for its subsidiaries in the interest of its secured creditors.
announces that, after a period of discussions to restructure the group's debt in conjunction with seeking a fully funded solution for its 100%-owned Araguaia Nickel Project and actively engaging existing and new potential investors, the Company has been unable to secure interest in the full financing needed to complete the Project or in a group acquiring the Project.
Discussions with secured creditors, and existing and new potential investors on alternative scenarios will continue to be held with a view to a potential restructuring solution to attempt to achieve some recovery value to our creditors.
We regret the impact this outcome will have on our many stakeholders. I want to thank everyone involved, especially the Horizonte team, for their efforts through this very challenging period."Except for statements of historical fact relating to the Company, certain information contained in this press release constitutes"forward-looking information" under Canadian securities legislation.
Horizonte Minerals Araguaia Nickel Project Financing Alternative Options Secured Creditors
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