HOUSTON, February 23, 2023 — Houston Natural Resources Corp. (OTC: HNRC) (“HNRC or the Company”) has hired an attorney to file an SEC registration statement on behalf of its subsidiary Worldwide Diversified Holdings, Inc (“WDHI”) for a public listing. The anticipated target listing price will be $3.50 per share. The shares in the previously announced spin-off of the non-energy assets included in the dividend program will be registered for trading on the open market. With a target listing of $3.50 per share, each HNRC shareholder will be issued one WDHI common share for every two HNRC common shares that were shareholders of record on December 16, 2022 equivalent to a $ 1.75 per HNRC common share stock dividend.
On December 5, 2022, HNRC filed the corporate action for review by FINRA to allow the company to issue the stock dividend of one WDHI shares for every two shares of HNRC held by the shareholder on the record date. FINRA has responded and HNRC has been consistently corresponding to complete this review process. The company will continue to keep its shareholders informed regarding this dividend event.
The company has also signed an agreement with an underwriting firm to complete an up listing for HNRC on to a major exchange in 2023. The $10 million dollar underwriting commitment for working capital to fund current operations, expansion and acquisitions.
HNRC expects that they have exceeded their annual projections for 2022 of over 20 million in revenue compared to $18,217,737 in 2021 & $9,523,634 in 2020. 10 million would be greater than a 30% increase of profit in 2022 compared to $7,636,830 in 2021 & $2,973,320 in 2020.
The company intends to focus on realizing the value on the total of $1.15 per share in current appraised energy assets held by its subsidiaries for the benefit of the shareholders.
About Houston Natural Resources Corp
Houston Natural Resources Corp. (OTCMKTS: HNRC) (www.hnrcholdings.com) is a diversified energy company with oil and gas interests as well as wastewater treatment facilities. The Halff Oil Field in Crockett County, Texas, 83 oil wells, estimated 33 million barrels of oil and water treatment and appraised reserves of $69 million. The company will also continue to seek new oil and gas and wastewater acquisitions as it focuses on creating more value for HNRC investors.
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.
Houston Natural Resources Corp
Houston Texas USA.
Phone: (757) 707-4563