Horizonte Minerals Plc

("Horizonte", the "Company" or the "Group") Closing of US$9.2 Million Bought Deal Financing

THIS ANNOUNCEMENT, INCLUDING THE APPENDICES AND THE INFORMATION CONTAINED THEREIN, IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE, DISTRIBUTION OR FORWARDING, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, RELEASE OR DISTRIBUTION WOULD BE UNLAWFUL.

FURTHER, THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE AN OFFER OF SECURITIES IN ANY JURISDICTION.  PLEASE SEE THE IMPORTANT NOTICES AT THE END OF THIS ANNOUNCEMENT.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018.

9 March 2021

Horizonte Minerals Plc

("Horizonte", the "Company" or the "Group")

Closing of US$9.2 Million Bought Deal Financing

LONDON, March 09, 2021 (GLOBE NEWSWIRE) -- Horizonte Minerals PLC, (TSX:HZM; AIM:HZM), (“Horizonte” or the “Company”) the nickel company focused on Brazil, is pleased to announce the completion of the bought deal private placement of special warrants (the “Special Warrants) announced on 18 February 2021 (the “Placing Announcement”), raising gross proceeds of US$9.2 million (£6.6 million) (the “Offering”) including the full exercise of the underwriters’ option. The Offering was led by Paradigm Capital Inc. (“Paradigm”), as lead underwriter and sole bookrunner, on its own behalf and on behalf of a syndicate of underwriters including Cormark Securities Inc. (together with Paradigm, the “Underwriters”). The Offering was announced concurrent with an institutional placing to new and existing investors (the “Placing”) with the key terms outlined in the Placing Announcement.

Pursuant to the Offering, the Company issued 88,060,100 Special Warrants at a price of 7.5 pence per share (C$0.133) per Special Warrant. Each Special Warrant, subject to the Penalty Provision (as defined below) and subject to adjustments in certain circumstances, shall be deemed to be exercised for one Ordinary Share in the capital of the Company (each, an “Underlying Share”) without any required action on the part of the holders (including payment of additional consideration) on the date on which the earlier of the following occurs: