$HNRC OUTLINES SPAC STRATEGY AND DIVIDEND POLICY
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Posted On: 04/21/2022 10:11:30 AM
$HNRC OUTLINES SPAC STRATEGY AND DIVIDEND POLICY
https://www.prnewswire.com/news-releases/hnrc...30271.html
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.
https://www.prnewswire.com/news-releases/hnrc...30271.html
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.
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