Strategic leader in environmental infrastructure development HOUSTON, TX, Aug. 04, 2025 (GLOBE NEWSWIRE) -- Houston American Energy Corp. (NYSE American: HUSA) (“HUSA” or the “Company”) today announced the appointment of Martha J. Crawford to its Board of Directors (the “Board”), effective immediately. Dr. Crawford will serve on the Audit Committee and as Chairperson of the Nominating & Governance Committee. "We are excited to welcome Martha to the Company’s Board of Directors," said CEO Ed Gillespie. "Mart ...

Core Insights - Houston American Energy Corp. (HUSA) has acquired a 25-acre site in Cedar Port Industrial Park for $8.5 million, aimed at establishing a low-carbon fuels and innovation hub [1][2][5] - The site will host HUSA's first plastics recycling plant, converting plastic waste into pyrolysis oil, and will serve as a foundation for developing recycling and renewable technologies [2][5] - The Cedar Port site is strategically located in the largest master-planned rail and barge-served industrial park in the U.S., providing logistical advantages for transportation and access to a skilled workforce [3][6][7] Company Overview - HUSA is an independent energy company with a diversified portfolio in both conventional and renewable sectors, focusing on oil and natural gas exploration and production [8] - The acquisition of Abundia Global Impact Group, specializing in waste plastic conversion to low-carbon fuels, reflects HUSA's commitment to sustainable energy solutions [8] Strategic Advantages - The Cedar Port Industrial Park features heavy industry infrastructure, including heavy-haul-rated roads and rail interchanges, facilitating efficient transportation of feedstock and products [6] - The region's skilled workforce in engineering and operations is a significant asset for HUSA as it expands its facilities and operations [7] - TGS Cedar Port Partners, the seller of the site, has a strong background in the plastic resin industry, handling approximately 5 billion pounds of plastic resin annually [3][10]

Core Viewpoint - Houston American Energy Corp. has secured a Common Stock Purchase Agreement with an institutional investor, establishing an equity line of credit of up to $100 million to accelerate its growth strategy in the low-carbon fuels and chemicals sector [1][2]. Group 1: Financial Agreement Details - The agreement allows Houston American Energy to sell up to $100 million of its common stock over a 24-month period, with a cap of $2 million per drawdown and shares sold at a 4% discount to the volume weighted average price (VWAP) [2][4]. - The company will file a registration statement with the U.S. Securities and Exchange Commission (SEC) to register the resale of shares under the agreement structured as a committed equity facility [4]. Group 2: Strategic Growth Plans - The capital commitment is seen as a significant milestone and validation of the company's long-term vision, providing enhanced flexibility to execute its growth strategy and advance its project pipeline [2][3]. - The company aims to use the proceeds from the equity line to pursue strategic acquisitions, scale operations, and expand its presence in the energy sector, particularly in low-carbon fuels and chemicals [1][3]. Group 3: Company Background - Houston American Energy Corp. is an independent energy company with a diversified portfolio across conventional and renewable sectors, historically focused on oil and natural gas exploration and production [5]. - In July 2025, the company acquired Abundia Global Impact Group, which specializes in converting waste plastics into low-carbon fuels and chemical feedstocks, reflecting its commitment to sustainable energy solutions [5].

Core Viewpoint - Houston American Energy Corp. has secured a $5 million Convertible Note to fund part of the acquisition of a 25-acre site at Cedar Port Industrial Park, aimed at developing a plastics-to-low-carbon fuels hub [1][4]. Group 1: Acquisition Details - The acquisition site is located in the largest rail and barge-served industrial park in the U.S., providing logistical advantages for transporting feedstock and low-carbon fuels [2]. - The expected closing date for the acquisition is July 2025, with a total cost of approximately $8.5 million [4]. Group 2: Financial Instrument - The Senior Secured Convertible Note has an 8% Original Issue Discount for a face amount of about $5.4 million and carries a 7% interest rate, maturing on July 10, 2026 [3]. - The Note is convertible into common shares at a price representing a 10% premium to a defined look-back price, which is the lower of the closing price on the day prior to signing or the five-day average closing price [3]. Group 3: Company Overview - Houston American Energy Corp. is an independent energy company with a diversified portfolio in both conventional and renewable sectors, focusing on oil and natural gas exploration and production [5]. - The company has recently acquired Abundia Global Impact Group, which specializes in converting waste plastics into low-carbon fuels, reflecting its commitment to sustainable energy solutions [5].

Group 1 - Houston American Energy Corp. appointed Matthew T. Henninger to its Board of Directors following a strategic share exchange with Abundia Global Impact Group, effective July 1, 2025 [1][2] - Mr. Henninger brings over 35 years of experience in investment banking, operational management, and business advisory, currently serving as Managing Partner at BRM Holdings and CEO of Exotropin [2] - The company focuses on converting waste materials into low-carbon fuels and chemicals, addressing the global plastic waste crisis through proprietary pyrolysis technology [4] Group 2 - The appointment of Mr. Henninger is seen as pivotal for the company's new direction, which aims to create economic value while tackling global challenges [3] - Following the appointment, Stephen P. Hartzell resigned from the Board, leaving a total of five directors, including three independent members [3]

Core Viewpoint - Houston American Energy Corp. has completed the acquisition of Abundia Global Impact Group, positioning itself as a leader in converting waste plastics into low-carbon fuels and chemical products [1][2][3] Company Overview - Houston American Energy Corp. focuses on renewable energy by converting waste materials into valuable low-carbon fuels and chemicals, utilizing proprietary pyrolysis technology to address the global plastic waste crisis [6] Transaction Highlights - The acquisition creates a platform for future value generation as the fuel and chemical industries shift towards low-carbon solutions and sustainable aviation fuel [3] - Abundia's founder, Ed Gillespie, will serve as CEO and join the Board of Directors, indicating strong leadership continuity [2][3] - The combined company plans to develop large-scale recycling projects, starting with a facility in the U.S. Gulf Coast, which is strategically located for access to waste feedstock and customers [7] Market Opportunity - The transaction targets a multi-billion dollar market, directly addressing the growing global demand for renewable fuels, Sustainable Aviation Fuel (SAF), and recycled chemical feedstocks [7] - The company possesses commercially ready technology that utilizes a proven pyrolysis process to convert waste plastics into valuable fuels and chemicals [7]

Core Viewpoint - Univest Securities, LLC has successfully closed a registered direct offering for Houston American Energy Corp, raising approximately $1.2 million in gross proceeds [1][3]. Group 1: Offering Details - Houston American Energy Corp agreed to sell 81,629 shares of common stock at a price of $14.80 per share to an institutional investor [2]. - The net proceeds from the offering are intended for general corporate purposes, amounting to approximately $1 million after deducting fees and expenses [3]. Group 2: Regulatory Compliance - The offering was conducted under a shelf registration statement on Form S-3, which was declared effective by the SEC on November 4, 2024 [4]. Group 3: Company Overview - Houston American Energy Corp is an independent oil and gas company involved in the acquisition, exploration, and production of natural gas and crude oil, primarily in the Texas Permian Basin, Colombia, and the Louisiana Gulf Coast [7].

Core Points - Houston American Energy Corp. has entered into a definitive agreement for the purchase and sale of 81,629 shares of common stock at a price of $14.80 per share in a registered direct offering [1] - The gross proceeds from this offering are expected to be approximately $1.2 million, with net proceeds of around $1 million intended for general corporate purposes [2] - The offering is being conducted under a shelf registration statement previously filed and declared effective by the SEC [3] - The company has appointed Univest Securities, LLC as the sole placement agent for the offering, entitled to an 8.0% fee on the proceeds [4]

Company Overview - Houston American Energy Corp. is an independent oil and gas company engaged in the acquisition, exploration, exploitation, development, and production of natural gas, crude oil, and condensate [7] - The company's principal properties are located primarily in the Texas Permian Basin, Colombia, and the onshore Louisiana Gulf Coast region [7] Offering Details - Houston American Energy Corp. has completed a registered direct offering, selling 223,762 shares of common stock at a purchase price of $10.60 per share, resulting in gross proceeds of approximately $2.37 million [2][3] - The net proceeds from the offering, estimated at approximately $2.1 million, are intended for general corporate purposes [3] Placement Agent - Univest Securities, LLC acted as the sole placement agent for the offering [3]

Core Viewpoint - Houston American Energy Corp. has entered into a definitive agreement for a registered direct offering of 223,762 shares at a price of $10.60 per share, expected to raise approximately $2.37 million in gross proceeds [1][2]. Group 1: Offering Details - The offering is expected to close on or about June 20, 2025, subject to customary closing conditions [2]. - The net proceeds from the offering, estimated at approximately $2.1 million, will be used for general corporate purposes [2]. - The offering is made under a shelf registration statement previously filed and declared effective by the SEC [3]. Group 2: Placement Agent Agreement - The Company has appointed Univest Securities, LLC as the sole placement agent for the offering, entitled to an 8.0% fee on the proceeds and reimbursement for expenses not exceeding $10,000 [4]. Group 3: Equity Purchase Agreement - The Company and the institutional investor had discussions about an equity purchase agreement but decided not to execute it at this time [5]. - If reconsidered, the agreement could allow the Company to sell up to $30 million of common stock over a 24-month term, with the purchase price expected to be approximately 96% of the lowest daily volume-weighted average price during the three trading days following a purchase notice [5].