One of the companies which may be on the radars of many investors this morning as more and more traders start making their New Year plans is Hillcrest Energy Technologies Ltd (OTCMKTS:HLRTF).
On Thursday, HLRTF stock fell 0.73% to $0.0750 with more than 7.50K shares, compared to its average volume of 21.71K shares. The stock moved within a range of $0.0727 – 0.0750 after opening trade at $0.0727.
Hillcrest Closes Book on Previously Announced Non-Brokered Private Placement
The company is involved in the clean tech sector and is currently involved in developing transformative power conversion solutions and control systems for new age electrical systems. Yesterday, the company announced that it had been successful in bringing about closure to the book related to its non-brokered private placement of units in Hillcrest Energy. The transaction had been announced previously by the company. However, in addition to that, the company also provided other finance related updates which could be of interest to investors.
The offering that had been originally announced was made up of as many as 20,000,000 units in the company and priced at C$0.12 each. Each unit is made up of 1.2 commons shares in Hillcrest Energy. The first tranche of the offering had been closed back on October 26, 2022. Hillcrest Energy managed to bring in as much as $1518000 in the form of gross proceeds from the offering. It should be noted that the securities which are a part of the offering are going to be under a hold period of four months.