HNRC IMPLEMENTS DIVIDEND POLICY
Houston Natural Resources Corp. (OTC: HNRC) announced a new dividend policy on March 4, 2022. The company plans to reward shareholders through dividends linked to its investment in HNR Acquisition Corp. Following the completion of HNRA's business combination, dividends will be distributed in cash or shares. If the shares are distributed at $10 each, the value would total $3,593,750. HNRC aims to sponsor more special purpose acquisition corporations for future dividends, showcasing its commitment to shareholder returns and financial growth.
- Implementation of a dividend policy to reward shareholders.
- Potential dividend value of $3,593,750 if current shares are distributed.
- Plans to sponsor additional special purpose acquisition corporations to enhance shareholder value.
- None.
HOUSTON, March 4, 2022 /PRNewswire/ -- Houston Natural Resources Corp. (OTC: HNRC) ("HNR or the Company") announced today that it has implemented a dividend policy.
In order to reward the shareholders, the Company intends to pay dividends, while consideration be given for the additional provision of corporate reserves from a viewpoint of safe and sound investment planning.
During the fiscal year ended December 31, 2022, in the anticipation of the Company receiving a distribution from its investment in HNR Acquisition Corp ("HNRA"), a special purpose acquisition corporation that began trading on the NYSE on February 11, 2022, the Company intends to dividend the value of the investment in cash or shares to its shareholders.
The Company's shares are currently locked up until the earlier of (A) 180 days after the completion of the HNRA initial Business Combination, or earlier if, subsequent to the HNRA's initial Business Combination, the last sale price of HNRA's common stock equals or exceeds
If the Company's current holdings of 359,375 common shares are available for distribution for a dividend @
The company intends to continue to sponsor additional special purpose acquisition corporations during the fiscal year ending December 31 that would provide for 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. 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: +1 (757) 707-4563
View original content:https://www.prnewswire.com/news-releases/hnrc-implements-dividend-policy-301495834.html
SOURCE Houston Natural Resources Corp.
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