Hillcrest Announces Closing of Non-brokered Private Placement of Units

Rhea-AI Summary

Hillcrest Energy Technologies (OTCQB:HLRTF) closed a non-brokered private placement of 7,968,319 units at $0.15 per unit, raising $1,195,247.85 gross proceeds.

Each unit includes one share and a two-year warrant at $0.20. Proceeds are earmarked for payables, advisors, and working capital.

Positive

• Raised $1,195,247.85 in gross proceeds via private placement
• Issued 7,968,319 two-year warrants with $0.20 exercise price
• Proceeds intended for debt reduction and general working capital

Negative

• Issuance of 7,968,319 new shares dilutes existing shareholders
• Additional dilution potential from 7,968,319 warrants and 133,333 finder warrants
• Cash finder’s fees of $19,999.99 reduce net proceeds
• Four-month-plus-one-day hold period limits immediate liquidity for investors

News Market Reaction – HLRTF

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In the Jun 17 session, HLRTF declined 0.59%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

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THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, BC / ACCESS Newswire / June 16, 2026 / Hillcrest Energy Technologies (CNSX:HEAT)(OTCQB:HLRTF)(FSE:7HI) ("Hillcrest" or the "Company"), is pleased to announce that, further it is news release of May 27, 2026, the Company has closed its previously announced non-brokered private placement of 7,968,319 units of the Company (the "Units") for gross proceeds of $1,195,247.85 at a price of $0.15 per Unit (the "Offering").

Each Unit consists of one common share in the capital of the Company (a "Common Share") and one Common Share purchase warrant (a "Warrant"). As a result, the Company issued a total of 7,968,319 Common Shares and 7,968,319 Warrants pursuant to the Offering.

Each Warrant entitles the holder thereof to acquire one Common Share at an exercise price of $0.20 per Common Share for a period of 24 months from the date of issuance.

It is intended that the proceeds from closing of the Offering will be used for retirement of existing accounts payable, payment of new advisors and consultants, and general working capital purposes.

In connection with the closing of the Offering, the Company paid aggregate cash finder's fees of $19,999.99 and issued an aggregate of 133,333 non-transferable finder's warrants (the "Finder's Warrants") to eligible arm's length finders. Each Finder's Warrant is exercisable into one Common Share at a price of $0.20 per Common Share for a period of twenty-four (24) months from the date of issuance.

The securities issued in connection with the Offering, including any Common Shares issuable upon the exercise of the Warrants and Finder's Warrants, are subject to a statutory four month and one day hold period, in accordance with the policies of the CSE and applicable Canadian securities laws.

About Hillcrest Energy Technologies Ltd.

Hillcrest Energy Technologies is a Canadian clean technology company focused on developing and commercializing advanced power conversion technologies and digital control systems for next-generation powertrains and grid-connected energy systems. The Company's proprietary Zero Voltage Switching (ZVS) technology platform is being commercialized across multiple markets, including next-generation AI data centers, microgrids, and electric vehicle powertrains. From concept to commercialization, Hillcrest is investing in the development of energy solutions that will power a more sustainable and electrified future. Hillcrest is publicly traded on the CSE under the symbol "HEAT," on the OTCQB Venture Market as "HLRTF," and on the Frankfurt Exchange as "7HI." For more information, please visit: https://hillcrestenergy.tech/

CONTACT INFORMATION

Investor Relations
Don Currie
info@hillcrestenergy.tech
O: +1 604-609-0006
Toll-free: 1 855-609-0006

Public Relations
Jamie L. Hogue jhogue@hillcrestenergy.tech
O: +1 602-793-9481

THE SECURITIES OF THE COMPANY REFERRED TO IN THIS PRESS RELEASE HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE "U.S. SECURITIES ACT"), OR ANY STATE SECURITIES LAWS. ACCORDINGLY, THE SECURITIES OF THE COMPANY MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES UNLESS REGISTERED UNDER THE U.S. SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS OR PURSUANT TO AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE U.S. SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS. THIS NEWS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF ANY OFFER TO BUY ANY SECURITIES OF THE COMPANY IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL.

FORWARD-LOOKING INFORMATION

This press release contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements". Forward-looking statements in this press release include, but are not limited to, the expected use of proceeds from the Offering. Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; political and regulatory risks; risks related to the maintenance of stock exchange listings; and other risks and uncertainties related to the Company's business detailed elsewhere in the Company's disclosure record. Additional information on these and other risk factors can be found in the Company's continuous disclosure documents available under its profile on SEDAR+ at www.sedarplus.ca.

Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections.

SOURCE: Hillcrest Energy Technologies Ltd.

View the original press release on ACCESS Newswire

FAQ

What did Hillcrest (OTCQB:HLRTF) announce on June 16, 2026 about its private placement?

Hillcrest announced the closing of a non-brokered private placement, raising gross proceeds of about $1.2 million. According to Hillcrest, 7,968,319 units were issued at $0.15 per unit, each with one share and one warrant.

How many shares and warrants did Hillcrest (HLRTF) issue in the June 2026 financing?

Hillcrest issued 7,968,319 common shares and 7,968,319 share purchase warrants in the placement. According to Hillcrest, each warrant allows buying one share at $0.20 for 24 months from issuance, potentially increasing future share count.

What is the exercise price and term of the Hillcrest (HLRTF) warrants from the June 2026 offering?

The investor warrants have a $0.20 exercise price and a 24‑month term. According to Hillcrest, each warrant can be converted into one common share within two years, creating possible additional capital and future dilution.

How will Hillcrest use the $1.195 million raised in the June 2026 private placement?

Hillcrest plans to use proceeds for accounts payable, advisor and consultant payments, and working capital. According to Hillcrest, directing funds toward liabilities and operations may strengthen the balance sheet and support ongoing corporate activities.

What finder’s fees were paid in Hillcrest’s June 2026 private placement of HLRTF units?

Hillcrest paid $19,999.99 in cash finder’s fees and issued 133,333 finder warrants. According to Hillcrest, each non-transferable finder warrant is exercisable at $0.20 per share for 24 months, adding potential additional share issuance.

Are the new Hillcrest (HLRTF) securities from the June 2026 offering freely tradable immediately?

No, the securities are subject to a four-month-and-one-day hold period. According to Hillcrest, this restriction applies to the shares and any shares issued on exercise of the warrants, in line with CSE policies and Canadian securities laws.