Houston American Energy Corp. Enters Definitive Agreement to Acquire Abundia Global Impact Group, Expanding into Renewable Fuels and Chemicals

Core Viewpoint - Houston American Energy Corp. (HUSA) has entered into a definitive agreement to acquire Abundia Global Impact Group, LLC (AGIG), which specializes in converting waste into high-value fuels and chemicals, aligning with HUSA's strategy to diversify its portfolio and enhance shareholder value through innovation in the renewable energy sector [1][3]. Acquisition Details - HUSA will acquire 100% of AGIG's issued and outstanding units, issuing shares that will equal 94% of HUSA's aggregate issued and outstanding common stock at the time of closing [2]. - AGIG is preparing to build its first advanced plastic recycling facility in Cedar Port, Texas, as part of a structured growth plan to scale its technologies for producing renewable fuels and chemicals from waste [2][4]. Strategic Alignment - The acquisition positions HUSA within the multi-billion dollar renewable energy market, providing a platform and project pipeline for future value generation [3]. - AGIG's Cedar Port facility will serve as a hub for a five-year development plan in the U.S., designed to scale production capacity while maintaining capital discipline [4]. Future Outlook - HUSA and AGIG are working on a structured integration and execution plan, with expectations to close the acquisition early in the second quarter of 2025 [5].