Hillcrest Energy Technologies (CSE: HEAT) (OTCQB: HLRTF) (FSE: 7HI), an innovative clean-technology company specializing in power conversion technologies, has completed a nonbrokered private placement. The placement was comprised of 3,530,000 units at $0.25 per unit, resulting in gross proceeds for the company of $882,500, with each unit made up of one common share in the capital of the company and one share purchase warrant. In addition, Hillcrest Energy Technologies issued 36,000 nontransferable share purchase warrants to an arm’s length service provider. The company also noted that, in connection with the offering, one subscriber sold 600,000 shares and used the funds from the sale to facilitate their participation in the offering. According to the announcement, Hillcrest anticipates using the proceeds from the offering for increased marketing, investor relations activities, technology development and general working capital, including the retirement of existing accounts payable.
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About Hillcrest Energy Technologies Ltd.
Hillcrest Energy Technologies is a clean-technology company focused on providing advanced power conversion technologies and digital control systems for next-generation powertrains and grid-connected renewable energy systems. From concept to commercialization, Hillcrest is investing in the development of energy solutions that will power a more sustainable and electrified future. For more information about the company, please visit www.HillcrestEnergy.tech.
NOTE TO INVESTORS: The latest news and updates relating to HLRTF are available in the company’s newsroom at https://ibn.fm/HLRTF
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