HOUSTON, TX, May 26, 2022 /PRNewswire/ -- Houston Natural Resources Corp. ("HNRC or the Company") provided an update on its strategy to invest and sponsor Special Purpose Acquisition Corporations ("SPACs").
The company intends to invest in a second SPAC that has filed an S-1 registration statement this month for a $100 million dollar offering. It intends to list by the end of the second quarter of 2022.
The company sponsored a successful $86 million NYSE listing of an energy focused SPAC during the first quarter of 2022. HNRC is currently evaluating six other SPAC opportunities and has identified a third SPAC for listing in the third quarter.
This strategy will result in a dividend to its shareholders, after the lock up period has expired, on each of the SPAC investments. This would provide quarterly dividends through the end of 2023.
The company expects to realize at least $3m on each of its SPAC investments to be added to its existing earnings in 2022 and 2023. This could provide shareholders with more than $0.30c per share in annual dividends.
The company is evaluating sponsoring other energy focused SPACS, including traditional oil and gas, renewable energy and waste to energy opportunities.
About Houston Natural Resources Corp
Houston Natural Resources Corp (www.hnrcholdings.com). The company is a diversified holding company with business operations and investments. The portfolio companies include investments in energy, information technology and healthcare.
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties.
Houston Natural Resources Corp
Houston Texas USA.
Phone: +1 (757) 707-4563
SOURCE Houston Natural Resources Corp.