Cunningham Natural Resources Corp CNRC

HNRC 2023 UPDATE LETTER TO SHAREHOLDERS

[AveragePenny]

In 2023 the company intends to continue to implement its strategies to benefit shareholders: 

• The company is engaging an underwriter for a $10 million dollar commitment for an up listing to a major exchange in 2023.
   
• The company intends to focus on realizing the value on the total of $1.15 per share in current appraised energy assets held by its subsidiaries for the benefit of the shareholders.
   
• The company is evaluating additional acquisitions in the energy and energy services industry to provide value for shareholders,
   
• The company intends to continue sponsoring additional SPAC investments. The company sponsored a successful NYSE listing of an energy focused SPAC during the first quarter of 2022. The company is currently focused on a second energy focused SPAC to be listed in 2023 and is currently evaluating other SPAC opportunities for listing onto major exchanges. This strategy will result in a dividend to its shareholders, after the lock up period has expired, on each of the SPAC investments. This would provide quarterly dividends through 2023 – 2024.
   
• CEO Frank Kristan Discusses Dividends, Acquisitions, and 2023 on "The Street Reports Podcast," Listen here: https://thestreetreports.com/houston-natural-resources-otc-hnrc-ceo-frank-kristan-discusses-dividends-acquisitions-and-2023-on-the-street-reports-podcast-listen-now

https://www.prnewswire.com/news-releases/hnrc-2023-update-letter-to-shareholders-301720069.html