Houston American Energy secures $100M equity line of credit

Houston American Energy (HUSA) has secured a Common Stock Purchase Agreement with an institutional investor, establishing an equity line of credit of up to $100 million. The Company intends to use the proceeds to accelerate its growth strategy, including strategic acquisitions, scaling operations, and expanding its presence in the low-carbon fuels and chemicals sector. Under the terms of the 24-month agreement, HUSA has the right to sell up to $100 million of its common stock to an institutional investor. The timing and amount of sales will be at the Company’s discretion, subject to a $2 million cap per drawdown, trading and volume limitations and other conditions. Shares will be sold at a 4% discount to the volume weighted average price of the Company’s stock over a specified period.