March 30 (Reuters) - Horizon Gold Ltd HRN.AX :
* AGREED TO SELL REMINING SHAREHOLDING IN HORIZON GOLD
* RECEIVED COMMITMENTS TO BUY REMAINING 18.8 MILLION SHARES IN HORIZON FROM SOPHISTICATED & PROFESSIONAL INVESTORS AT $0.20 PER SHARE
* MANAGEMENT AGREEMENT BETWEEN PANORAMIC AND HORIZON WILL REMAIN IN PLACE IN NEAR TERM
* VICTOR RAJASOORIAR, EXECUTIVE CHAIRMAN OF HORIZON STEP DOWN FROM BOARD OF HORIZON ONCE NEW NON-EXECUTIVE DIRECTOR IS APPOINTED