11:48 AM EST, 11/11/2024 (MT Newswires) -- Houston American Energy ( HUSA ) said Monday it has appointed Peter Longo as chief executive and president, effective immediately, and closed a roughly $2.5 million private placement.

Longo succeeds John Terwilliger, who stepped down as CEO and president but will continue as a director. Longo serves as chairman of Cyient.

Houston American Energy ( HUSA ) said it plans to use the net proceeds from the private placement of 2.18 million common shares for general corporate purposes and to pursue strategic growth initiatives.

Houston American Energy ( HUSA ) shares were down 2.3% in recent trading.

Price: 1.29, Change: -0.03, Percent Change: -2.27