Horizonte Minerals Plc

("Horizonte", the "Company" or the "Group") Closing of US$9.2 Million Bought Deal Financing - Seite 2

(i) the third business day following the date on which a final receipt is obtained from the applicable securities regulator on behalf of the securities regulatory authorities in each of the provinces of British Columbia and Ontario (the “Final Receipt”), for the final qualification prospectus (the “Qualification Prospectus”) qualifying the Underlying Shares for distribution; and

(ii) 4:59 p.m. (Toronto time) on July 10, 2021.

The Company has agreed to use commercially reasonable efforts to qualify the Underlying Shares for distribution in Canada, and to obtain the Final Receipt therefor, on or prior to April 28, 2021. In the event the Final Receipt has not been received on or before April 28, 2021, each Special Warrant shall thereafter entitle the holder thereof to receive, upon the exercise or deemed exercise thereof, as applicable, 1.1 Underlying Shares without further payment on the part of the holder (the “Penalty Provision”).

The Company intends to use the net proceeds of the Offering and the Placing to initiate specific early works and advance long lead items linked to start of construction of Araguaia Project and for working capital and general corporate purposes.

The Special Warrants and Underlying Shares are subject to a hold period under Canadian securities laws until July 10, 2021, unless the Final Receipt is obtained prior to that time. The Offering has been conditionally approved by the TSX (the “TSX”) and remains subject to final acceptance by the TSX.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the 1933 Act and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act, as amended, and application state securities laws.

For further information, visit www.horizonteminerals.com or contact:

Horizonte Minerals PLC                                         Jeremy Martin (CEO)