Hillcrest Energy announces private placement for up to $1.2 million

Hillcrest Energy Technologies (CSE: HEAT) announced a non-brokered private placement of up to 8 million units at $0.15 per unit for gross proceeds of up to $1.2 million.

Each unit consists of one common share and one share purchase warrant. The warrants allow holders to purchase additional shares at $0.20 per share for 24 months following issuance.

The company plans to use proceeds for retiring existing accounts payable, paying new advisors and consultants, and general working capital purposes.

Hillcrest may pay finders' fees in cash or units to certain parties in connection with the offering. The company can increase or decrease the offering size according to Canadian Securities Exchange policies and may close in multiple tranches with no minimum proceeds required.

Securities issued in the placement are subject to a four-month-plus-one-day statutory hold period. The offering requires regulatory and corporate approvals, including Canadian Securities Exchange approval.

Hillcrest Energy Technologies develops power conversion technologies and digital control systems for powertrains and grid-connected energy systems. The company's Zero Voltage Switching technology platform targets markets including AI data centers, microgrids, and electric vehicle powertrains.

The company trades on the CSE as HEAT, OTCQB as HLRTF, and Frankfurt Exchange as 7HI.

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