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Hillcrest Energy Technologies Ltd HLRTD


Primary Symbol: C.HEAT Alternate Symbol(s):  HLRTF

Hillcrest Energy Technologies Ltd. is a Canada-based clean technology company, which is engaged in the business of developing clean energy technologies. The Company is focused on providing advanced power conversion technologies and digital control systems for next-generation powertrains and grid-connected renewable energy systems. The Company operates through two segments: Clean Energy and Corporate. It also engaged in a variety of research and development (R&D) activities associated with its Zero Voltage Switching (ZVS) technology platform and commercializing projects associated with specific applications being developed on the ZVS technology platform. The Zero Voltage Switching is an inverter technology platform to be deployed into several products, including an EV traction inverter, a simplified EV on-board charging solution, a grid-connected inverter and a multi-level inverter.


CSE:HEAT - Post by User

Post by koczkaon Apr 12, 2021 8:46am
376 Views
Post# 32976170

NEWS!! ¡HEAT

NEWS!! ¡HEATVANCOUVER, B.C. - TheNewswire - April 12, 2021 - Hillcrest Energy Technologies, Ltd. (C NSX : HEAT . CN ) (OTC : HLRTF) (FRA : 7HI.F) (the Company or Hillcrest ) today announces the closing of a $5,000,000 equity facility agreement (the Investment Agreement ) provided by Mercer Street Global Opportunity Fund, LLC (the Investor or Mercer Street ). Hillcrest has received in escrow a First Tranche of CDN $2,240,000. Hillcrest has the right, but not the obligation, to request further tranches under the Investment Agreement which are to be made available upon certain general conditions being met. Funds drawn are immediately converted into share units in the Company. I am delighted to partner with Mercer Street. This funding, combined with monthly production revenues, creates a strong financial foundation that not only meets our anticipated commitments through the upcoming fiscal year, it also expands our ability to pursue new development partnership opportunities and execute against internal IP development initiatives, said Hillcrest CEO, Don Currie. Mercer Streets shared vision for Hillcrest to be a leading catalyst in the transition to clean energy is backed by their unwavering support to see the team succeed. THE AGREEMENT
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