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VANCOUVER, BC, Dec. 29, 2022 /CNW/ – Hillcrest Energy Technologies Ltd. (CSE: HEAT) (OTCQB: HLRTF) (the “Company” or “Hillcrest”), a clean technology company developing transformative power conversion technologies and control system solutions for next-generation electrical systems, is pleased to announce the closing of the book for its previously announced non-brokered private placement of units of the Company (“Offering”) and provides other financial updates.
Hillcrest announces the closing of the book for its previously announced non-brokered private placement
The original terms of the Offering consisted of up to 20,000,000 units of the Company at a price of CDN $0.12 per unit (“Units”). Each Unit contains 1.2 common shares in the capital of the Company (the “Shares”). The Company previously announced, on October 26, 2022, the closing of the first tranche of the Offering as a result of receipt of firm commitments by subscribers – the Company corrects the disclosure to indicate that the book was closed on the first tranche, but securities are being distributed upon final closing, which is…
