DALLAS, Texas, April 18, 2022 (GLOBE NEWSWIRE) -- HXPN, Inc. (“HXPN” or “the Company”) (OTCPINK: HXPN), an emerging technologies and mineral resources development company, today announced that it has completed its due diligence and executed closing documents with regard to its investment in Sheppard Pool Energy, LLC (SPE), the Oklahoma-based oil and gas exploration company in whom HXPN has acquired a 75% equity interest. HXPN will provide capital to execute SPE’s business plan, which is focused on oil and gas exploration, exploitation and production in the historically prolific shallow conventional horizons of northeastern Oklahoma. SPE owns leasehold interests of just over 4,900 acres in northeastern Oklahoma. SPE has identified, via electric log evaluation, a minimum of fifteen re-completion opportunities in previously drilled but uncompleted “behind pipe” pay sands within its existing leasehold and expects to begin to re-enter the wells within the next several weeks. In addition to these re-completion projects, SPE has identified multiple new drilling locations on its leasehold. The Company expects to report early results of the first re-entry efforts in mid second quarter, 2022.
The Company is also pleased to announce that has completed its due diligence of OPUS AMDG, Inc., (“OPUS”) and has executed and funded the OPUS Service Agreement. The Company has engaged OPUS to assist and support the Company in the issuance of a Senior Secured Note in the amount of $500,000,000.00. The Company expects to complete the compliance process within the next thirty days and expects to realize note proceeds by the end of the second quarter, 2022. The Company will use the proceeds to make capital investments across its areas of focus.
About HXPN, Inc.
Based in Dallas, Texas, HXPN is engaged in the acquisition and development of emerging technologies that will impact everyday life. Additionally, the company seeks to acquire mineral resources necessary for the sustainability of daily life in our ever-changing world.
Notice Regarding Forward-Looking Statements:
This news release may contain "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this news release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions for the future. Such forward-looking statements include, among other things, the ongoing effect(s) of domestic and world economic conditions and any related impact(s) on the potential business development and future interest in our technology and resources investments.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, general economic and political conditions, and other domestic and world events. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate.
HXPN, Inc is currently a non-reporting OTC-quoted “Pink Limited Information” company, and has achieved compliance with recently-amended SEC Rule 15c2-11, which requires that “companies make current information publicly available to maintain a market.” Investors should consult all information set forth herein and on the Company’s website for the latest available information.
CONTACT:
HXPN, Inc.
Stephen L. Bailey, President
2911 Turtle Creek Boulevard, Suite 300
Dallas, TX 75219
(833) 250-6645
Investors & Analysts Contact:
HXPN Investor Relations
(833) 250-6645
ir@hxpninc.com
For more information, visit HXPN's website: www.hxpninc.com
