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 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 shares were down 2.3% in recent trading.
Price: 1.29, Change: -0.03, Percent Change: -2.27
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