HNRC Portfolio Company Announces Updated and Revised Purchase Agreement
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HNRA has signed the A&R MIPA with the sellers described therein ("Sellers") revising and replacing the terms of the prior agreement to purchase all of the equity interests in the Target. A copy of the A&R MIPA and a more detailed description of the A&R MIPA is included in the HNRA 8-K filing dated August 30, 2023 (bit.ly/45Oxg2z)
Highlights of the A&R MIPA include revision of the purchase price to an aggregate amount of
In addition, in connection with the reduction of the purchase price due at closing, Target transferred a
On August 28th HNRA signed a commitment letter with First International Bank & Trust (FIBT) for a senior secured term loan in the amount of
When the HNRA business combination is completed, HNRC will be able to provide a liquidity event for its shareholders, that is expected to be within 180 days of closing.
About Houston Natural Resources Corp
Houston Natural Resources Corp. (OTC: HNRC) (www.hnrcholdings.com) is a diversified energy company with oil and gas interests. The Company has recently acquired a
About Cunningham Natural Resources Corp
Cunningham Natural Resources Corp (www.cunninghamnaturalresources.com) will be focused on traditional oil and gas opportunities and energy transition materials including mining opportunities in copper, lithium, gold, as well as other precious and rare earth metals. The investment focus will be global with sustainability at the core of the strategy.
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.
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SOURCE Houston Natural Resources Corp
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