Hillcrest Energy Launches $750K Private Placement

Hillcrest Energy Technologies (TSE:HEAT) has released an update.

Hillcrest Energy Technologies has launched a non-brokered private placement aiming to raise up to $750,000 by selling 3 million units at $0.25 each, with proceeds designated for marketing, technology development, and general working capital. Each unit consists of one common share and a purchase warrant, with the latter exercisable at $0.30 for three years, subject to an acceleration clause. The placement also includes provisions for finder’s fees and all securities will observe a statutory hold period as per Canadian securities laws.

For further insights into TSE:HEAT stock, check out TipRanks’ Stock Analysis page.