HOUSTON, June 13, 2016
/PRNewswire/ -- Houston American Energy Corp. (NYSE MKT: HUSA)
(herein the "Company") today announced that it has engaged Drexel
Hamilton, a New York-based
full-service institutional broker-dealer focused on investment
banking, capital markets, equities, corporate debt, government
agencies and municipal finance.
Drexel Hamilton will work with the Company to assist in making
merger and acquisitions introductions, negotiating deals, capital
sourcing, and other supporting services.
John Boylan, Chief Executive
Officer of the Company, commented, "We believe that building a
relationship with a national brokerage firm in anticipation of
future mergers or acquisitions will accelerate the steps to achieve
our strategic goals. To that end, we are pleased to have engaged
Drexel Hamilton to leverage our firm's bandwidth in achieving these
previously announced objectives."
Chris Freeman, Energy Investment
Banker at Drexel Hamilton, stated, "Most oil and gas companies
today are trying to sell assets to address their debt loads. We
like Houston American Energy Corp. in that it currently has no
debt, its shares trade on a recognized exchange and it has an
experienced management team in the oil and gas industry.
Houston American's May 16, 2016 release announced new strategic
alternatives being sought by the Company and Drexel Hamilton has
been engaged to provide support with acquisition candidates, merger
partners, other alternatives and capital sourcing to support those
efforts."
While the Company believes that there are attractive
opportunities that will be available to execute one or more
strategic transactions that will position the Company to take
advantage of an anticipated future recovery in energy markets, such
transactions may be highly dilutive and there can be no assurance
that any such strategic transaction can be executed on acceptable
terms or at all. For additional information please refer to our web
site www.HoustonAmerican.com or our corporate filings available on
our web site and the Securities and Exchange Commission's Edgar web
site www.SEC.gov .
About Houston American Energy Corp.
Based in Houston, Texas,
Houston American Energy Corp. is a publicly-traded independent
energy company, which currently has no debt, with interests in oil
and natural gas wells and prospects. The Company's business
strategy includes a property mix of producing and non-producing
assets with a focus on Texas,
Louisiana, and Colombia.
About Drexel Hamilton
Drexel Hamilton, LLC is a New York-based full-service
institutional broker-dealer focused on investment banking, capital
markets, equities, corporate debt, government agencies, mortgages,
and municipals. The firm was founded in 2007 on the principle of
offering meaningful employment opportunities to disabled veterans
desiring a career in financial services. With more than 90
professionals, including 41 military veterans, 23 of whom are
service disabled, Drexel Hamilton has offices in Philadelphia,
New York, Chicago, Jacksonville, Houston, Boston, Milwaukee, Lincoln, San Francisco, and
Detroit. For more information, please call (866) 999-4401 or
visit Drexel Hamilton's website at www.drexelhamilton.com.
Forward-Looking Statements
This press release contains "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995. Any statements as to matters that are not of historic fact
are forward-looking statements. These forward-looking statements
are based on the Company's current expectations, estimates and
projections about the Company, its industry, its management's
beliefs and certain assumptions made by management, and include
statements regarding the availability of merger and acquisition
candidates, the Company's ability to consummate one or more mergers
or acquisitions or to secure additional capital and the future
recovery of energy prices. No assurance can be given that such
expectations, estimates or projections will prove to have been
correct. Whenever possible, these "forward-looking statements" are
identified by words such as "expects," "believes," "anticipates"
and similar phrases.
Readers are cautioned that any such forward-looking
statements are not guarantees of future performance and are subject
to certain risks. Given these risks and uncertainties,
readers are cautioned not to place undue reliance on such
forward-looking statements. Other important risk factors that may
affect the Company's business, results of operations and financial
position are discussed in its most recently filed Annual Report on
Form 10-K, recent Quarterly Reports on Form 10-Q, recent Current
Reports on Form 8-K and in other Securities and Exchange Commission
filings. Unless otherwise required by law, the Company also
disclaims any obligation to update its view of any such risks or
uncertainties or to announce publicly the result of any revisions
to the forward-looking statements made here. However, readers
should review carefully reports and documents that the Company
files periodically with the Securities and Exchange
Commission.
For additional information, view the company's website at
www.HoustonAmericanEnergy.com or contact the Houston American
Energy Corp. at (713) 222-6966.
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SOURCE Houston American Energy Corp.