Hertz Energy Announces Close of Non-Brokered Private Placement

Executive Summary

• Hertz Energy Inc. closed a non‑brokered private placement of 4,200,000 units at $0.10 per unit, generating gross proceeds of $420,000.
• Each unit consists of one common share and one warrant to purchase an additional common share at $0.125 exercisable for up to 36 months.
• Proceeds will be used for general and administrative purposes and to advance the Lake George Antimony Project.

Key Details

• Units sold: 4,200,000 units @ $0.10 per unit → $420,000 gross proceeds.
• Unit composition: 1 common share + 1 warrant (right to purchase one additional common share at $0.125).
• Warrant terms: exercisable any time on or before 36 months from the closing date.
• Statutory hold period: securities subject to a Canadian hold period of 4 months + 1 day from closing.
• Use of proceeds: general and administrative expenses; funding for advancement of the Lake George Antimony Project (strategic claims surrounding historic antimony mine).
• Regulatory notice: Units not registered under U.S. securities laws; cannot be offered or sold in the United States absent exemption/registration.

Notable Quotes

(No CEO quotes included in the release.)