HNRC TO SPIN OFF NON-ENERGY ASSETS
TO SHAREHOLDERS
HOUSTON, TX -- July 6, 2022
-- InvestorsHub NewsWire -- Houston Natural
Resources Corp. (OTC:
HNRC) ("HNRC or the Company") announced today that it will spin
off its non-energy assets to its wholly owned subsidiary Worldwide
Diversified Holdings, Inc and then dividend them to its
shareholders.
The Company announced that, effective June 30, 2022, the
Board of Directors has approved the transfer of the non-energy
investments of $53,307,324 in exchange for 10,661,465 common shares
of Worldwide Diversified Holdings, Inc at $5.00 per share. The
Company received the requisite stockholder approval granting the
Board of Directors the authority to affect the transfer of the
assets and approve the dividend to the
shareholders.
Worldwide Diversified Holdings, Inc ("WDHI") has audited
statements and will provide for a listing later this year. The
dividend record date will be announced during the third quarter and
will automatically be distributed to the Company's shareholders.
The company is anticipating an initial trading price of $5.00 per
share to provide for the Company to list on a major exchange and
receive additional capital. The transaction will provide for a
dividend of $1.75 of WDHI shares for every one share of HNRC held
by the shareholder on the record date.
Shareholders owning shares through a broker or other nominee
will have their positions automatically adjusted to reflect the
dividend and will not be required to take any action in connection
with the transaction. The transaction would not have any impact on
the voting and other rights of stockholders and will have no impact
on the Company's business operations or any of its outstanding
indebtedness.
With the completion of the transaction, the company will now
be focused on (i) acquisitions of income producing oil and gas
properties, (ii) expansion of its wastewater treatment facilities,
(iii) additional equipment for the existing 83 oil well rework
project and (iv) on completing its listing onto the
OTCQB.
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
