HLT Energies Inc., a generator of wind and solar power, has provided an update with respect to the proposed financings announced in its press release dated Dec. 10, 2007. The two proposed private placements announced therein have not yet taken place.
The parties involved in the first private placement of 1 million units have re-negotiated the terms of that private placement. The subscriber has been replaced, and the private placement will be made with a private investor.
Consequently, it will not be a ‘related party’ transaction within the meaning of Regulation 61-101 respecting protection of minority security holders in special transactions. Closing is subject to the approval of the TSX Venture Exchange.
The terms of the second private placement, announced Dec. 10, 2007, are still being negotiated by the parties involved.
