HNRC OUTLINES SPAC STRATEGY AND DIVIDEND POLICY

Rhea-AI Summary

Houston Natural Resources Corp (OTC: HNRC) announced its strategy to invest and sponsor Special Purpose Acquisition Corporations (SPACs) in 2022. The company plans to sponsor one SPAC each quarter, having already listed an $86 million energy-focused SPAC in Q1 2022. HNRC aims to provide over $0.30 per share in annual dividends, expected to yield at least $3 million from each SPAC investment, starting after the lock-up period ends. Additional SPAC opportunities in various energy sectors are also under evaluation, promising continued shareholder returns through 2023.

Positive

• Successful sponsorship of an $86 million energy-focused SPAC in Q1 2022.
• Plans to provide quarterly dividends to shareholders through the end of 2023.
• Estimated $3 million profit from each SPAC investment contributing to earnings in 2022 and 2023.
• Projected annual dividends of over $0.30 per share.

Negative

• None.

HOUSTON, April 21, 2022 /PRNewswire/ -- Houston Natural Resources Corp. (OTC: HNRC) ("HNRC or the Company") outlined today its strategy to invest and sponsor Special Purpose Acquisition Corporations ("SPACs") in 2022.

The company intends to sponsor one SPAC investment in each quarter of 2022.  

The company sponsored a successful $86 million NYSE listing of an energy focused SPAC during the first quarter of 2022. The company is currently focused on a second energy focused SPAC to be listed by the end of the second quarter. HNRC is currently evaluating six other SPAC opportunities for listing in the third and fourth quarter of 2022.

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

View original content:https://www.prnewswire.com/news-releases/hnrc-outlines-spac-strategy-and-dividend-policy-301530271.html

SOURCE Houston Natural Resources Corp.

FAQ

What is Houston Natural Resources Corp's plan for SPACs in 2022?

Houston Natural Resources Corp plans to sponsor one SPAC each quarter in 2022, focusing on energy sectors.

How much profit does HNRC expect from each SPAC investment?

HNRC expects to realize at least $3 million from each of its SPAC investments.

Will HNRC pay dividends to its shareholders?

Yes, HNRC plans to provide quarterly dividends to shareholders after the lock-up period expires.

What is the estimated annual dividend per share from HNRC?

HNRC projects annual dividends of over $0.30 per share for its shareholders.

When will HNRC's dividends be paid?

Dividends are expected to be paid after the lock-up period ends following SPAC investments.