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Houston Natural Resources to Acquire Water Treatment Firm for USD 10m.

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Vincent

MANews-(C)2009-2022

US-based holding company Houston Natural Resources Corp. (OTC: HNRC) will be acquiring additional wastewater treatment facilities to continue to develop a network of wastewater treatment facilities, the company said.

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 USD 7.2m and USD 500,000. Revenues and EBITDA for 2022 are estimated to be USD8.5 m and USD1.0 m.

Revenues and EBITDA for 2023 are...

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