June 9, 2009 (FinancialWire) — Holloman Energy Corp. (OTCBB: HENC) has converted over $900,000 of indebtedness into restricted shares of its common stock.

Under the terms of a private offering approved by its board of directors on May 29, 2009, the company authorized the issuance of 9,385,935 shares of restricted common stock at a price of $0.10 per share. The $938,594 of converted indebtedness was payable to its controlling shareholder, Holloman Corp., and to an entity affiliated with the company’s president and a certain unrelated individual.

The conversion extinguishes substantially all of the company’s non-trade indebtedness. No fees or commissions were paid in connection with this offering.

Holloman Energy Corp. is an emerging international exploration, and development independent.

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