HNRC TO ACQUIRE WATER TREATMENT COMPANY FOR $10 MILLION

HOUSTON, Texas, June 2, 2022 – 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

Related Post
5 Myths About Personal Loans
ALLIE CARLSON AND JENNA MESIGIAN JOIN DAKESSIAN LAW LTD
How Long Should Retirement Savings Last?
Why do we have different credit scores?
The next Eric Dalius Scholarship is open for Submissions says Eric Dalius Miami