Hillcrest Energy closes $1.2M private placement of units

Hillcrest Energy Technologies (CNSX: HEAT)(OTCQB: HLRTF)(FSE: 7HI) has closed a non-brokered private placement, issuing 7,968,319 units at $0.15 per unit for gross proceeds of $1,195,247.85, according to a press release dated June 16, 2026.

Each unit consists of one common share and one common share purchase warrant. Each warrant allows the holder to acquire one additional common share at $0.20 for a period of 24 months from the date of issuance.

The company stated proceeds will be used for the retirement of existing accounts payable, payment of new advisors and consultants, and general working capital purposes.

In connection with the offering, Hillcrest paid $19,999.99 in cash finder's fees and issued 133,333 non-transferable finder's warrants, each exercisable at $0.20 per common share for 24 months from issuance.

All securities issued are subject to a statutory four-month and one-day hold period under Canadian Securities Exchange policies and applicable Canadian securities laws.

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