HNRC UPDATES ON SECOND $100
MILLION DOLLAR SPAC
HOUSTON, TX -- May 26, 2022 --
InvestorsHub NewsWire -- Houston Natural
Resources Corp. (OTC:
HNRC) ("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)
(OTC:HNRC).
The company is a diversified
holding company with business
operations and investments. The portfolio companies include
investments in energy, information technology and
healthcare.
FORWARD-LOOKING
STATEMENTS:
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.
Contact:
Houston Natural Resources Corp
E-mail: frank@hnrcholdings.com
Houston Texas USA.
Phone: (757) 707-4563
