Hillcrest Announces Private Placement and Termination of Equity Drawdown Facility
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Hillcrest Energy Technologies announced a private placement to raise up to $2 million by issuing 11,111,111 units at $0.18 each. Part of the funds will settle $1.5 million in outstanding debt. The company also terminated its equity drawdown facility.
December 13, 2024 | 10:30 pm
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Hillcrest Energy Technologies is raising up to $2 million through a private placement, issuing 11,111,111 units at $0.18 each. This move will help settle $1.5 million in debt and indicates a shift in financing strategy by terminating the equity drawdown facility.
The private placement will provide Hillcrest with necessary capital and reduce debt, which is positive for financial health. Terminating the equity drawdown facility suggests a strategic shift, potentially reducing future dilution risk.
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