Horwood Exploration Corp. Announces Completion of Private Placement and Shares Corporate Updates

Horwood Exploration Corp. successfully completed a non-brokered private placement on April 8, 2024, raising $50,000 through the issue of 1,000,000 units. Each unit, priced at $0.05, comprises one common share and a warrant, allowing the purchase of an additional share at $0.10 within three years. The proceeds are earmarked for working capital, with no finder's fees paid. Securities from the placement are subject to a four-month hold period as per securities laws.

The placement impacted the shareholding proportions, particularly for three significant shareholders. Perry English's ownership increased to 8.36% on a non-diluted basis, while Victor Cantore's and Pamel Kate Misener's holdings decreased to 14.32% and 7.16%, respectively. Despite these changes, shareholders may adjust their investments based on market conditions and the company's prospects. Early warning reports related to these changes are available on the SEDAR+ website.

In addition, Horwood disclosed the resignation of Victor Cantore as President, CEO, and Executive Officer as of March 21, 2024. Eric Allard has been appointed interim CEO while a permanent replacement is sought. This announcement is part of Horwood's corporate update, which also emphasized the continuous effort in mineral property exploration, specifically focusing on gold exploration on the Horwood Property.