HNRC GIVES UPDATE ON DIVIDEND
POLICY AND SHORT POSITION
HOUSTON, TX -- March 17, 2022 --
InvestorsHub NewsWire -- Houston Natural
Resources Corp. (OTC:
HNRC) ("HNR or the Company") provided an update on its dividend
policy and current short position.
In order to reward the shareholders, the Company intends to
pay a dividend in the third quarter of this year between July 1,
2022 and September 30, 2022. This
is in the anticipation of the Company receiving a distribution from
its investment in HNR Acquisition Corp ("HNRA") a special purpose
acquisition corporation that trades on
the NYSE (https://hnra-nyse.com/).
The Company intends to dividend the value of the investment in cash
or shares to its shareholders. 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. If the shares trade at $12.00 per share, then the
distribution in cash or shares would be $4,312,500 or $0.20c per
share. If the shares trade at $20.00 per share, then the
distribution in cash or shares would be $7,187,500 or $0.33c 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.
The company has also become aware of a naked short position
in the trading of its stock on the OTC markets. Some days as much
as 80% of the shares being shorted in one day. In the last 10
trading days there has been 1,221,507 shares traded or an average
of 122,150 shares per day and 692,538 shares shorted with an
average of 69,253 shares shorted per day. There is an average 57%
daily naked short position. The information is at the OTC Short
Report https://bit.ly/36sGDvz.
About Houston Natural Resources
Corp
Houston Natural Resources Corp (https://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