HOUSTON, TX / ACCESSWIRE / June 13, 2023 / HNR Acquisition Corp (NYSE American:HNRA) (the "Company" or "HNRA") announces that, in accordance with the Company's amended and restated certificate of incorporation, it has received notice from HNRAC Sponsors LLC (the "Sponsor") of its intention to extend the period of time by which the Company must complete its initial business combination for one month until July 15, 2023.
Extension of time for Initial Business Combination
In accordance with the Company's amended and restated certificate of incorporation, the Sponsor's designee has timely deposited into the designated trust account, on June 9, 2023, an aggregate of $120,000 in order to extend the period of time by which the Company must complete its initial business combination from June 15, 2023 to July 15, 2023.
Previously the Company announced its intent to purchase all equity interests in Pogo Resources LLC and its subsidiaries. Pogo's oil and gas property includes 13,700 leasehold acres of which there are 95 active waterflood patterns all located in the Permian Basin, Eddy, New Mexico. Additional information on HNRA and the Pogo property can be found in the investor deck at this link:
https://irp.cdn-website.com/52ff0a24/files/uploaded/HNRA-AcquisitionTarget-v34-IR.pdf
About HNR Acquisition Corp
HNR Acquisition Corp is a blank check company (otherwise known as a special purpose acquisition company) formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities.
For more information on HNRA, the acquisition and the transaction, please visit the Company's website: https://www.hnra-nyse.com/
Forward-Looking Statements
This press release includes "forward-looking statements" that involve risks and uncertainties that could cause actual results to differ materially from what is expected, including the funding of the Trust Account to further extend the period for the Company to consummate an initial business combination, if needed. Words such as "expects," "believes," "anticipates," "intends," "estimates," "seeks," "may," "might," "plan," "possible," "should" and variations and similar words and expressions are intended to identify such forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Such forward-looking statements relate to future events or future results, based on currently available information and reflect the Company's management's current beliefs. A number of factors could cause actual events or results to differ materially from the events and results discussed in the forward-looking statements. In addition, please refer to the Risk Factors section of the Company's Form 10-K as filed with the SEC on March 31, 2023 for additional information identifying important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements. Except as expressly required by applicable securities law, the Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
Investor Relations
Michael J. Porter, President
PORTER, LEVAY & ROSE, INC.
[email protected]
SOURCE: HNR Acquisition Corp