Hillcrest Signs Digital Currency Engagement Agreement
VANCOUVER, B.C. – Hillcrest Petroleum Ltd. (the “Company” or “Hillcrest”) is pleased to announce the Company has signed an engagement agreement with Entoro Capital, LLC (“Entoro”) headquartered in Houston, Texas to establish a digital or crypto currency Initial Coin Offering (“ICO”). The focus will be on an asset backed energy security coin offering that will utilize the best of breed blockchain technologies for the Canadian energy market.
Hillcrest engaged Entoro as the Company’s agent to provide investment banking, business development and consulting services in partnership with the Company in potential financing transactions using digital and crypto currencies for acquisitions and development of the Company’s business plan focused in Alberta and Saskatchewan, Canada.
Entoro, through their relationships and contacts within the investment community, will advise and assist the Company to raise capital through a funding of an ICO offering and will assist in identifying and evaluating potential ICO investors. The ICO will be structured and offered through a wholly-owned subsidiary of Hillcrest. The offering will be available for investment through various exemptions and regulations currently in effect in Canada, the United States and other jurisdictions around the world.
Any ICO completed would proceed through appropriate regulatory channels to ensure that all activities are compliant and approved by the relevant regulators in jurisdictions where the financing will be offered. The White Paper, distribution plan and process will be forthcoming and available from the Company and/or Entoro.
“Hillcrest is excited to be working with Entoro Capital and jointly pursuing an ICO as an alternate form of financing which could result in additional value for the Company” states Hillcrest CEO Don Currie. “The investment community has been extremely supportive of alternate currencies and Hillcrest looks forward to participating in this new and rapidly evolving investment process. The Company will use Western Canadian reserves and production as the value basis for an ICO and will be better placed to attract a broader spectrum of investors. An ICO is considered to be a particularly effective funding alternative for Hillcrest as it may provide access to substantial capital funding to deliver value growth from our existing and new Western Canadian oil and gas projects, without exposing existing shareholders to potential dilution through conventional equity funding. “
For more information on Hillcrest Petroleum Ltd, contact Don Currie toll free at 1-855-609-0006 or visit the Company’s website at www.hillcrestpetroleum.com
ON BEHALF OF THE BOARD
Chief Executive Officer and Director
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