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HORIZON GOLD PROPOSES NAME CHANGE AND REVERSE STOCK SPLIT

 HORIZON GOLD PROPOSES NAME CHANGE AND REVERSE STOCK SPLIT
 GOLDEN, Colo., Aug. 17 /PRNewswire/ -- Horizon Gold Corp. (NASDAQ-NMS: HRIZ) said its board of directors has approved the proposals to change the corporate name and to effect a reverse stock split on its outstanding shares. These proposals are subject to the ratification by shareholders at the Annual Meeting to be held on Sept. 15, 1992.
 To better reflect the primary business of the company as a diversified mining corporation, the proposed name change to Horizon Resources Corp. is recommended.
 A one for eight share reverse stock split of the issued and outstanding shares is also proposed. Management believes that, given the changing environment for low-priced stocks, a reverse stock split may improve the marketability of the company's shares.
 Also approved by the board of directors is an increase in the company's common stock capitalization. The proposed amendment provides for a 50 percent increase in the authorized common stock capitalization. At this time, the board of directors does not have any plans to issue additional shares of common stock.
 Horizon Gold, a diversified mining company, is involved in the mining and production of potash and the exploration and development of precious metals, base metals and industrial minerals. The company's stock is listed on the NASDAQ National Market System under the symbol "HRIZ."
 -0- 8/17/92
 /CONTACT: Dick Ryan of Horizon Gold, 303-239-8701/
 (HRIZ) CO: Horizon Gold Corp. ST: Colorado IN: MNG SU:


BB -- DV006 -- 0554 08/17/92 13:31 EDT
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Publication:PR Newswire
Date:Aug 17, 1992
Words:250
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