Horizon Minerals Ltd (ASX:HRZ) has boosted its balance sheet by A$2.93 million on selling 948,448 shares in Vox Royalty Corp (TSX-V:VOX) with the funds to advance its Western Australian gold strategy.
The company received the Vox common shares which were issued on November 24, 2023, in the name of Horizon Minerals and held in escrow for four months.
Following the release from escrow, the block of Vox shares were sold on market via the Nasdaq and TSX exchange for an average price of US$2.077.
This has returned gross proceeds of A$$2,927,918 (US$1,913,101 at 0.6534) before broker commission and US/Canada withholding tax for foreign source income (currently held in USD).
The sale has resulted in Horizon further strengthening its balance sheet and the company now has a cash and investments position of $12.3 million which will support its objectives to move into gold production.