Horizonte Minerals (GB:HZM) has released an update.
Horizonte Minerals PLC faces financial distress, unable to fully finance its Araguaia Nickel Project and has resolved to enter administration, appointing Geoff Rowley and Chad Griffin as administrators. The company’s shares have been suspended from trading on AIM and TSX, and they are consulting on a restructuring plan to preserve value for creditors. Peel Hunt LLP has also resigned as the company’s Nominated Adviser, which may lead to the cancellation of the company’s shares on AIM if a replacement is not found within a month.
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