Hillcrest Energy ups shares for debt offering to $550K

Executive Summary

• Hillcrest Energy Technologies Ltd. has updated its private placement offering, increasing the total gross proceeds from the originally announced $500,000 to $550,000.
• The offering consists of units priced at 18 cents per unit, with each unit comprising one common share and one share purchase warrant.
• A portion of the proceeds, up to $140,000, will be used to settle previously accrued fees owed to directors.

Key Details

• Offering Price: 18 cents per unit.
• Total Gross Proceeds: Increased to $550,000 (up from the original $500,000 announcement).
• Unit Composition: Each unit consists of one common share and one share purchase warrant.
• Warrant Terms: Each warrant entitles the holder to purchase one additional share at an exercise price of 20 cents per warrant share.
• Warrant Expiration: The warrants are exercisable for a period of 12 months following the date of issuance.
• Use of Proceeds: Up to $140,000 of the gross proceeds is anticipated to be settled in connection with previously accrued fees owing to directors for their services.
• Lock-up Period: All securities issued in the private placement are subject to a statutory hold period of four months and one day following issuance, in accordance with Canadian securities laws.
• Reference: This offering was originally announced on March 23, 2026.