Houston American Energy Corp. (AMEX:HUSA) announced that i has entered into securities purchase agreements for a private placement of 1,200, 12% series A convertible preferred shares at $1,000 per share for gross proceeds of $1,200,000 on January 31, 2017. The transaction included participation from 24 accredited investors. The dividend is payable on a quarterly basis in cash. The preferred shares are convertible into common shares of the company at a conversion price of $0.20 per share. Preferred shares are redeemable. The company issued securities pursuant to exemption provided under Regulation D. No placement agents, underwriters or finders participated in the transaction and the company did not pay commissions or similar fees.