HNRC TO ACQUIRE WATER TREATMENT COMPANY FOR $10 MILLION

 

HOUSTON, TX -- June 2, 2022 -- InvestorsHub NewsWire -- Houston Natural Resources Corp. (OTC: HNRC) ("HNR or the Company") announced today that it will be acquiring additional wastewater treatment facilities  to continue to develop a network of wastewater treatment facilities. The transaction is expected to close during the month of June.

 

The company being acquired is a water well services and drilling company with historical recurring customer/service revenue of 68% and a projected go forward recurring customer/service revenue of 80%.They specialize in municipal, mining, industrial, and agricultural water wells and pump systems and have been in business for 7 years. They are primarily a services and hold contractor licenses in the US Western Region and have a fleet of small and large drilling rigs and support equipment in addition to three Saltwater Disposal Units.

 

Revenues and EBITDA for 2021 were approximately $7.2 million and $500,000. Revenues and EBITDA for 2022 are estimated to be $8.5 million and $1.0 million. Revenues and EBITDA for 2023 are estimated to be $11 million and $1.5m. The equipment appraised at  $13 million dollars will be part of an increase of $10 million in the company's assets.

 

The company has received financing commitments for the transaction which will be a combination of cash and securities. The company intends to continue to acquire additional wastewater treatment facilities and technologies to provide for a nationwide network of wastewater treatment plants.  

 

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

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