Business
Hillcrest Provides an Update on Private Placement Offering
Vancouver, British Columbia--(Newsfile Corp. - December 31, 2025) - Hillcrest Energy Technologies Ltd. (CSE: HEAT) (FSE: 7HI) ("Hillcrest" or the "Company"), is pleased to provide updates with respect to its previously announced offering (the "Offering") of units of the Company (the "Units") as outlined in its news releases of October 14, 2025 and October 28, 2025.The Company expects that it will close the second tranche of the Offering (the "Second Tranche") in early January 2026, which will...
About this update from Hillcrest Energy Technologies Ltd.
[{"type":"text","content":"Vancouver, British Columbia--(Newsfile Corp. - December 31, 2025) - Hillcrest Energy Technologies Ltd. (CSE: HEAT) (FSE: 7HI) ("Hillcrest" or the "Company"), is pleased to provide updates with respect to its previously announced offering (the "Offering") of units of the Company (the "Units") as outlined in its news releases of October 14, 2025 and October 28, 2025.","length":407,"tagName":"p"},{"type":"text","content":"The Company expects that it will close the second tranche of the Offering (the "Second Tranche") in early January 2026, which will include the strategic investment from Pasqua First Nation in the amount of $3,000,000.","length":227,"tagName":"p"},{"type":"text","content":"Additionally, the Company originally announced that the Offering would be for an aggregate amount of up to $7,200,000 comprised of: (i) up to $3,900,000 in proceeds to the Company to be raised via the issuance of Units at a price of $0.09 per Unit on a private placement basis (the "Cash Offering") and (ii) up to $3,300,000 in debt to be settled through the issuance of Units on the same terms as in respect of the Cash Offering (the "Debt Offering"). The Company now anticipates increasing the amount of the Cash Offering to be an aggregate of $4,400,000 and that the Debt Offering will be limited to $2,850,000. This updated total includes an anticipated increase of the total offering amount from $7,200,000 to $7,250,000 due to oversubscriptions in respect of the Cash Offering.","length":803,"tagName":"p"},{"type":"text","content":"The closing of the Second Tranche of the Offering is expected to trigger Company security holder approval requirements pursuant to Section (2)(a)(i)(2) of Policy 4 of the Canadian Securities Exchange's policies ("CSE Policy 4"), due to the potential issuance of over 100% of the total number of securities currently outstanding of the Company as result of the aggregated Offering.","length":394,"tagName":"p"},{"type":"text","content":"As previously disclosed in the press release of the Company dated October 28, 2025, the Company will rely on the financial difficulties exemption under Section (2)(b) of CSE Policy 4 such that it will not be required to seek or obtain Company security approval for the Offerings (the "Exemption"). In this...