Houston American Energy Corp. (NYSE: HUSA) announced that it has closed on its previously announced registered direct equity offering of 14,814,815 units at $0.675 per unit, with each unit consisting of one of the company's common shares, one class A warrant to purchase one-half share of common stock and one class B warrant to purchase one half share of common stock, for gross proceeds of approximately $10 million.
C. K. Cooper & Company Inc. acted as placement agent for the offering.
Houston American Energy Corp. intends to use the proceeds from the offering for general working capital purposes, including funding the company's share of costs of development of properties in which the company holds interests.
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