Business
Hillcrest Announces Closing of Final Tranche of Unit Offering
Vancouver, British Columbia--(Newsfile Corp. - January 9, 2026) - Hillcrest Energy Technologies (CSE: HEAT) (FSE: 7HI) ("Hillcrest" or the "Company") is pleased to announce it has closed the final tranche (the "Final Tranche") of its previously announced offering (the "Offering") of units of the Company (the "Units") for gross proceeds of $4,593,118.86 at a price of $0.09 per Unit, comprised of: (i) $3,642,879.96 in aggregate gross proceeds raised through the issuance of 40,476,444 Units on a...
About this update from Hillcrest Energy Technologies Ltd.
[{"type":"text","content":"Vancouver, British Columbia--(Newsfile Corp. - January 9, 2026) - Hillcrest Energy Technologies (CSE: HEAT) (FSE: 7HI) ("Hillcrest" or the "Company") is pleased to announce it has closed the final tranche (the "Final Tranche") of its previously announced offering (the "Offering") of units of the Company (the "Units") for gross proceeds of $4,593,118.86 at a price of $0.09 per Unit, comprised of: (i) $3,642,879.96 in aggregate gross proceeds raised through the issuance of 40,476,444 Units on a private placement basis (the "Cash Offering") and (ii) $950,238.90 in proceeds raised through the issuance of 10,558,210 Units in consideration for the settlement of $950,238.90 in debt owing to an arm's length creditor of the Company (the "Debt Settlement"). The total Cash Offering size, cumulative of all tranches, was 48,972,556 Units for gross proceeds of approximately $4,407,530. The total Debt Settlement size, cumulative of all tranches, was 31,581,634 Units in settlement of an aggregate of approximately $2,842,347 of debt.","length":1106,"tagName":"p"},{"type":"text","content":"Each Unit consists of one common share in the capital of the Company (a "Common Share") and one Common Share purchase warrant (a "Warrant"). As a result, the Company issued an aggregate total of 51,034,654 Common Shares and 51,034,654 Warrants pursuant to the closing of the Final Tranche.","length":309,"tagName":"p"},{"type":"text","content":""The closing of this final tranche represents a significant milestone for Hillcrest," said Don Currie, CEO of Hillcrest Energy Technologies. "The strategic investment from Pasqua First Nation not only strengthens our balance sheet but reinforces the value of our collaborative approach to commercializing our ZVS technology. Combined with the successful retirement of debt and strong investor interest, we're now positioned to accelerate our technology development and deliver on the commitments we've made to our shareholders and partners."","length":569,"tagName":"p"},{"type":"text","content":"Each Warrant entitles the holder thereof to acquire one Common Share at an exercise price of $0.12 per Common Share for a period of 24 months from the date of issuance. The Warrants are subject to an accelerated expir...