HNRC OUTLINES SPAC STRATEGY AND DIVIDEND POLICY
Houston Natural Resources Corp (OTC: HNRC) announced its strategy to invest and sponsor Special Purpose Acquisition Corporations (SPACs) in 2022.
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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.
Details
News Market Reaction – HNRC
The recorded move for HNRC in the trading session of this news was +1.75%.
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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
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
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.
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