Houston Natural Resources Corp. (OTCPK:HNRC) intend to spin off Worldwide Diversified Holdings, Inc on June 30, 2022. Board of Directors of Houston Natural Resources Corp.

has approved the transfer of the non-energy investments of $53.3 million in exchange for 10,661,465 common shares of Worldwide Diversified Holdings, Inc. Worldwide Diversified Holdings, Inc ("WDHI") has audited statements and will provide for a listing later this year. The transaction will provide for a dividend of $1.75 of Worldwide Diversified Holdings, Inc shares for every one share of Houston Natural Resources Corp. held by the shareholder on the record date. As per the disclosure of September 28, 2022, transaction's record was announced which is December 16, 2022 .

The shares will be distributed to the Company's shareholders upon an effective registration statement. The company is anticipating the registration statement to be completed in the fourth quarter of 2022. Houston Natural Resources Corp.

received the requisite stockholder approval granting the Board of Directors the authority to affect the transfer of the assets and approve the dividend to the shareholders. The transaction is expected to close on December 30, 2022. The transaction is expected to complete on May 26, 2023.