Hillcrest Energy Technologies settles debt with units issuance
News provided byHillcrest Energy Technologies Ltd · 1 min read
VANCOUVER, British Columbia, September 3, 2026 (Newswire.com) - Hillcrest Energy Technologies Ltd. (CSE:HEAT, OTCQB:HLRTF, FRA:7HI) has successfully closed a debt settlement agreement with certain arm's length creditors, resolving an outstanding debt of $141,096.64 through the issuance of 783,870 units.
According to the terms of the agreement, each unit, consisting of one common share and one share purchase warrant, was issued at a deemed price of $0.18 per unit. The warrants allow the holder to purchase an additional share at a price of $0.20 per share for a period of 24 months from the date of issuance.
The company's move to settle the debt through the issuance of units is part of its ongoing efforts to streamline financial obligations and enhance liquidity. Each unit issued carries with it a commitment to potential future growth, as the warrants could provide an additional source of equity financing.
Hillcrest Energy Technologies is an energy technology firm focused on advanced power conversion technologies and digital control systems for next-generation powertrains and grid-connected renewable energy systems. The company's commitment to sustainable and electrified energy solutions is underscored by its continued investment in research and development.
Hillcrest's securities are subject to a four-month and one-day statutory hold period following the issuance date, as per applicable Canadian securities laws. This period is designed to prevent immediate resale of the securities, thereby stabilizing the market for a defined period.
The company’s securities are not registered under the U.S. Securities Act of 1933, as amended, or any state securities laws, and therefore, cannot be offered or sold within the United States without proper registration or an applicable exemption.
Hillcrest Energy Technologies Ltd. continues to face risks and uncertainties, as highlighted in its Management's Discussion and Analysis (MD&A) for the year ended December 31, 2025, which can be accessed at <https://www.sedarplus.ca/>.