Related Party Transactions	12 Months Ended
Dec. 31, 2016
Notes
Related Party Transactions	NOTE 3 - RELATED PARTY TRANSACTIONS As at December 31, 2016, the Company was indebted to Mr. Robert Fedun, a director, CEO and CFO of the Company, in the amount of $10,038 (December 31, 2015 - $61,477). Of this balance, $1,038 (December 31, 2015 - $3,803) was associated with advances given to the Company by Mr. Fedun and was included in due to related party; and $9,000 (December 31, 2015 - $57,674) was associated with the services provided by Mr. Fedun, and was included in accounts payable. Amounts due to related party are due on demand, bear no interest, and are unsecured. During the year ended December 31, 2016, the Company accrued $36,000 (December 31, 2015 - $36,000) in consulting fees to Mr. Fedun. The consulting fees were recorded as part of professional fees on the Statement of Operations. On October 8, 2016, the Company reached an agreement with Mr. Fedun to convert $91,284 owed to Mr. Fedun into 456,419 restricted common shares of the Company at a deemed price of $0.20 per share. At the time of the conversion, the fair market value of the Company’s common shares was $0.75 per share. The conversion resulted in a loss of $251,030 which was debited to Additional Paid in Capital (“APIC”) (Note 6). On October 28, 2016, the Company received $15,000 as a non-interest bearing advance from a related party. The advance was used to pay for the preliminary exploratory work on the Claims. The Company repaid the advance during the same year.

Related Party Transactions

12 Months Ended

Dec. 31, 2016

NOTE 3 - RELATED PARTY TRANSACTIONS

As at December 31, 2016, the Company was indebted to Mr. Robert Fedun, a director, CEO and CFO of the Company, in the amount of $10,038 (December 31, 2015 - $61,477). Of this balance, $1,038 (December 31, 2015 - $3,803) was associated with advances given to the Company by Mr. Fedun and was included in due to related party; and $9,000 (December 31, 2015 - $57,674) was associated with the services provided by Mr. Fedun, and was included in accounts payable. Amounts due to related party are due on demand, bear no interest, and are unsecured.

During the year ended December 31, 2016, the Company accrued $36,000 (December 31, 2015 - $36,000) in consulting fees to Mr. Fedun. The consulting fees were recorded as part of professional fees on the Statement of Operations.

On October 8, 2016, the Company reached an agreement with Mr. Fedun to convert $91,284 owed to Mr. Fedun into 456,419 restricted common shares of the Company at a deemed price of $0.20 per share. At the time of the conversion, the fair market value of the Company’s common shares was $0.75 per share. The conversion resulted in a loss of $251,030 which was debited to Additional Paid in Capital (“APIC”) (Note 6).

On October 28, 2016, the Company received $15,000 as a non-interest bearing advance from a related party. The advance was used to pay for the preliminary exploratory work on the Claims. The Company repaid the advance during the same year.

HORIZON MINERALS CORP. 10-K