HNRC Implements Dividend Policy
04 Março 2022 - 12:00PM
InvestorsHub NewsWire
HNRC
IMPLEMENTS DIVIDEND POLICY
HOUSTON, TX -- March 4, 2022
-- InvestorsHub NewsWire -- 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 $12.00 per share (as
adjusted for stock splits, stock dividends, reorganizations,
recapitalizations and the like) for any 20 trading days within any
30-trading day period commencing at least 90 days after the HNRA
initial Business Combination or (B) the date on which HNRA
completes a liquidation, merger, stock exchange or other similar
transaction after the initial Business Combination that results in
all of the HNRA's stockholders having the right to exchange their
shares of common stock for cash, securities or other property. When
the shares or cash are available for distribution the Company will
announce the definitive date for shareholders of record to 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 distribution in
cash or shares would be $3,593,750 at $0.17c per share.
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: (757) 707-4563
Houston Natural Resources (PK) (USOTC:HNRC)
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