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Houston American Energy to purchase a 12.5% interest in TRL


Published Feb 26, 2016
Houston American Energy Corp.

Houston American Energy Corp. has agreed to purchase ordinary shares of Tamboran Resources Limited (TRL) for $1 million. Closing of the purchase is subject to receipt by Tamboran of a minimum of A$705,000 (approximately US$500,000) of additional funding from the sale of ordinary shares to parties other than Houston American.

Houston American's purchase, when completed, will represent a 12.5% ownership interest in Tamboran and includes anti-dilution provisions that may maintain that ownership level for a period of nine months with respect to certain equity issuances by Tamboran.

Tags: Houston American Energy Corp




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