Houston American Energy Corp. Announces $2.37 Million Registered Direct Offering

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].