Hillcrest Petroleum Ltd. (TSXV:HRH) announced a private placement of up to 25,340,000 units at a price of CAD 0.05 per unit for gross proceeds of CAD 1,267,000 on January 18, 2021. The transaction involved participation from 29 placees including six of professional group for 2,400,000 units and Donald Currie, chief executive officer and director for 1,500,000 units. Each unit will consist of one common share and one common share purchase warrant of the company. Each unit will entitle the holder to acquire one additional common share of the company at an exercise price of CAD 0.10 per share for a period of two years. All securities to be issued will be subject to a four month hold period expiring on May 19, 2021 in accordance with applicable securities laws. The company paid finder’s fee of CAD 20,960 cash and 419,200 finder's warrants to Raymond James Ltd and CAD 12,800 cash and 256,000 finder's warrants to Venture Liquidity Providers Inc. Each finders warrant entitles the holder to purchase one additional share at a price of CAD 0.10 per Share for a period of two years from the closing. The company has issued 200,000 units for gross proceeds of CAD 10,000 pursuant to exemption provided under Regulation D to a single investor. TSX Venture Exchange has accepted for filing documentation with respect to the transaction.