HOUSTON, March 4, 2022 /PRNewswire/ — Houston Natural Resources Corp. (OTC: HNRC) (“HNR or the Company”) today announced that it has implemented a dividend policy.
In order to reward shareholders, the Company intends to pay dividends, while considering the creation of additional reserves in the context of safe and sound investment planning.
During the year ended December 31, 2022in anticipation of the Company receiving a distribution of its investment in HNR Acquisition Corp (“HNRA”), a special purpose acquisition company which began trading on the NYSE on February 11, 2022the Company intends to distribute the value of the investment in cash or shares to its shareholders.
The shares of the Company are currently locked in until the earlier of (A) 180 days after the completion of the Initial HNRA Business Combination, or earlier if, after the Initial HNRA Business Combination, the last price of sale of HNRA common stock is equal to or greater than $12.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations, etc.) for 20 trading days during any 30 trading day period beginning at least 90 days after the initial business combination of HNRA or (B) the date on which HNRA completes a liquidation, merger, stock market or other similar transaction after the initial business combination that entitles all stockholders of HNRA to exchange their common shares for cash, securities or other property. When shares or cash are available for distribution, the Company will announce the final date on which registered shareholders will receive the dividend.
If the Company’s current holdings of 359,375 common shares are available for distribution for a dividend @ $10 per share, then the value of the cash or stock distribution would be $3,593,750 at $0.17c per share.
The company intends to continue sponsoring other special purpose acquisition companies in the year ending the 31st of December which would provide additional dividends.
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. 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. performance or results and involve a number of risks and uncertainties.
Natural Resources Society of Houston
E-mail: [email protected]
Houston Texas United States.
Phone: +1 (757) 707-4563
SOURCEHouston Natural Resources Corp.