Hillcrest Energy Technologies Launches Private Placement for $1.2 Million

Hillcrest Energy Technologies has announced a non-brokered private placement of up to 8,000,000 units at $0.15 each, targeting gross proceeds of $1.2 million. The offering might be adjusted based on the Canadian Securities Exchange (CSE) policies. Each unit includes one common share and a warrant to buy an additional share at $0.20 within 24 months.

The raised funds will address existing accounts payable, hire new advisors, and be used for general working capital. Hillcrest may offer finders' fees and complete the offering in tranches. The securities issued will be under a hold period of four months plus a day, subject to approvals from the Exchange.

This offering is not available to U.S. persons and is compliant with Canadian securities legislation.