HNRC UPDATES ON SECOND $100 MILLION DOLLAR SPAC

Rhea-AI Summary

Houston Natural Resources Corp. (HNRC) has announced plans to invest in a second Special Purpose Acquisition Corporation (SPAC) with a $100 million offering set to list by Q2 2022. Following a successful $86 million SPAC listing earlier, HNRC is evaluating six additional SPAC opportunities and plans to introduce a third in Q3. This strategy aims to provide shareholders with quarterly dividends through the end of 2023, expecting at least $3 million earnings per SPAC investment, potentially leading to over $0.30 per share annually.

Positive

• Plans to invest in a second SPAC with a $100 million offering.
• Successful prior SPAC listing of $86 million in Q1 2022.
• Quarterly dividends projected for shareholders through 2023.
• Expectation of $3 million earnings per SPAC investment.

Negative

• None.

HOUSTON, TX, May 26, 2022 /PRNewswire/ -- Houston Natural Resources Corp. ("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). 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-updates-on-second-100-million-dollar-spac-301556056.html

SOURCE Houston Natural Resources Corp.

FAQ

What is Houston Natural Resources Corp's strategy with SPACs?

HNRC plans to invest in and sponsor various SPACs, including a second SPAC with a $100 million offering.

When will the new SPAC by HNRC be listed?

The new SPAC is expected to be listed by the end of the second quarter of 2022.

How much potential earnings does HNRC expect from SPAC investments?

HNRC expects to realize at least $3 million on each SPAC investment.

What dividend can shareholders expect from HNRC's SPAC investments?

Shareholders could receive more than $0.30 per share in annual dividends.

What types of SPACs is HNRC considering for investment?

HNRC is evaluating energy-focused SPACs, including traditional oil and gas, renewable energy, and waste-to-energy opportunities.