Houston, TX - October 1, 2012 - Houston American Energy
Corp. (NYSE MKT: HUSA) today announced the pricing of a
public offering of 14,814,815 units, with each unit
consisting of one share of common stock and one Class A
warrant and one Class B warrant to purchase shares of
common stock, at a purchase price of $0.675 per unit. Each
Class A warrant will have the right to purchase one-half
share of common stock, will have an exercise price of $0.81
per share and will expire 6 months from the date of
issuance. The Class B warrant will have the right to
purchase one-half share of common stock, will have an
exercise price of $0.90 per share and will expire 36 months
from the date of issuance. C. K. Cooper & Company, Inc.
acted as the placement agent for the offering. Gross
proceeds from the sale of the securities are expected to be
approximately $10,000,000. Net proceeds from the sale of
the securities after deducting placement agent fees and
other offering expenses are expected to be approximately
$9,225,000. The offering is subject to customary closing
conditions and is expected to close on October 4, 2012. The
Company plans to use the net proceeds from the offering for
general working capital purposes, including funding its
share of costs of development of properties in which the
Company holds interests. This offering was made pursuant to
a prospectus supplement to the Company's prospectus,
dated August 26, 2009, filed as part of the Company's
effective $75 million shelf registration statement. This
press release shall not constitute an offer to sell or the
solicitation of an offer to buy any securities nor will
there be any sale of these securities in any state in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of
any such state. Copies of the final prospectus supplement
and accompanying prospectus relating to these securities
may be obtained by contacting C. K. Cooper & Company, Inc.
18300 Von Karman Avenue, Suite 700, Irvine, California
92612. About Houston American Energy Corp.
Based in Houston, Texas, Houston American Energy Corp is an
independent energy company with interests in oil and
natural gas wells and prospects. The Company's business
strategy includes a property mix of producing and
non-producing assets with a focus on Colombia, Texas and
Louisiana. Additional information can be accessed by
reviewing our Form 10-K and other periodic reports filed
with the Securities and Exchange Commission.
For additional information, view the Company's website
at www.houstonamericanenergy.com or contact the Houston
American Energy Corp. at (713) 222-6966.
Disclosures in this press release may contain
forward-looking statements relating to anticipated or
expected events, activities, trends or results.
Forward-looking statements, can be identified by the use of
forward looking terminology such as "believes,"
"suggests," "expects," "may,"
"intends," "could," or
"anticipates," or the negative thereof, or other
variations thereon, or comparable terminology, or by
discussions of strategy or objectives. Because
forward-looking statements relate to matters that have not
yet occurred, these statements are inherently subject to
risks and uncertainties. Such statements are made to
provide the public with management's current assessment
of the Company's business, and it should not be assumed
that actual results will prove these statements to be
correct. Security holders are cautioned that such
forward-looking statements involve risks and uncertainties.
The forward-looking statements contained in this press
release speak only as of the date of this press release,
and the Company expressly disclaims any obligation or
undertaking to report any updates or revisions to any such
statement to reflect any change in the Company's
expectations or any change in events, conditions or
circumstances on which any such statement is based. Certain
factors may cause results to differ materially from those
anticipated by some of the statements made in this release.
Please carefully review our filings with the SEC as we have
identified many risk factors that impact our business plan.