HOUSTON, June 13, 2016 /PRNewswire/ -- Houston American Energy Corp. (NYSE MKT: HUSA) (herein the "Company") today announced that it has engaged Drexel Hamilton, a New York-based full-service institutional broker-dealer focused on investment banking, capital markets, equities, corporate debt, government agencies and municipal finance.
Drexel Hamilton will work with the Company to assist in making merger and acquisitions introductions, negotiating deals, capital sourcing, and other supporting services.
John Boylan, Chief Executive Officer of the Company, commented, "We believe that building a relationship with a national brokerage firm in anticipation of future mergers or acquisitions will accelerate the steps to achieve our strategic goals. To that end, we are pleased to have engaged Drexel Hamilton to leverage our firm's bandwidth in achieving these previously announced objectives."
Chris Freeman, Energy Investment Banker at Drexel Hamilton, stated, "Most oil and gas companies today are trying to sell assets to address their debt loads. We like Houston American Energy Corp. in that it currently has no debt, its shares trade on a recognized exchange and it has an experienced management team in the oil and gas industry. Houston American's May 16, 2016 release announced new strategic alternatives being sought by the Company and Drexel Hamilton has been engaged to provide support with acquisition candidates, merger partners, other alternatives and capital sourcing to support those efforts."
While the Company believes that there are attractive opportunities that will be available to execute one or more strategic transactions that will position the Company to take advantage of an anticipated future recovery in energy markets, such transactions may be highly dilutive and there can be no assurance that any such strategic transaction can be executed on acceptable terms or at all. For additional information please refer to our web site www.HoustonAmerican.com or our corporate filings available on our web site and the Securities and Exchange Commission's Edgar web site www.SEC.gov .
About Houston American Energy Corp.
Based in Houston, Texas, Houston American Energy Corp. is a publicly-traded independent energy company, which currently has no debt, with interests in oil and natural gas wells and prospects. The Company's business strategy includes a property mix of producing and non-producing assets with a focus on Texas, Louisiana, and Colombia.
About Drexel Hamilton
Drexel Hamilton, LLC is a New York-based full-service institutional broker-dealer focused on investment banking, capital markets, equities, corporate debt, government agencies, mortgages, and municipals. The firm was founded in 2007 on the principle of offering meaningful employment opportunities to disabled veterans desiring a career in financial services. With more than 90 professionals, including 41 military veterans, 23 of whom are service disabled, Drexel Hamilton has offices in Philadelphia, New York, Chicago, Jacksonville, Houston, Boston, Milwaukee, Lincoln, San Francisco, and Detroit. For more information, please call (866) 999-4401 or visit Drexel Hamilton's website at www.drexelhamilton.com.
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements as to matters that are not of historic fact are forward-looking statements. These forward-looking statements are based on the Company's current expectations, estimates and projections about the Company, its industry, its management's beliefs and certain assumptions made by management, and include statements regarding the availability of merger and acquisition candidates, the Company's ability to consummate one or more mergers or acquisitions or to secure additional capital and the future recovery of energy prices. No assurance can be given that such expectations, estimates or projections will prove to have been correct. Whenever possible, these "forward-looking statements" are identified by words such as "expects," "believes," "anticipates" and similar phrases.
Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Other important risk factors that may affect the Company's business, results of operations and financial position are discussed in its most recently filed Annual Report on Form 10-K, recent Quarterly Reports on Form 10-Q, recent Current Reports on Form 8-K and in other Securities and Exchange Commission filings. Unless otherwise required by law, the Company also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here. However, readers should review carefully reports and documents that the Company files periodically with the Securities and Exchange Commission.
For additional information, view the company's website at www.HoustonAmericanEnergy.com or contact the Houston American Energy Corp. at (713) 222-6966.
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SOURCE Houston American Energy Corp.