Hertz Energy Announces Close of Non-Brokered Private Placement

Core Viewpoint - Hertz Energy Inc. has successfully closed a non-brokered private placement, raising a total of $420,000 through the issuance of 4,200,000 units, which will be utilized for general administrative purposes and to advance the Lake George Antimony Project [1][2]. Group 1: Private Placement Details - The private placement involved the issuance of 4,200,000 units at a price of $0.10 per unit, resulting in gross proceeds of $420,000 [1]. - Each unit consists of one common share and one warrant, allowing the holder to purchase an additional common share at $0.125 within 36 months from the closing date [1]. - The securities issued will be subject to a statutory hold period of four months and one day from the closing date, in compliance with Canadian securities laws [1]. Group 2: Use of Proceeds - The gross proceeds from the offering will be allocated for general and administrative matters and to further develop the Lake George Antimony Project, which was historically the largest primary antimony producer in North America [2]. Group 3: Company Overview - Hertz Energy is a junior exploration company based in British Columbia, focusing on mineral property acquisition and exploration in Eastern Canada [4]. - The company has a strategic portfolio of four assets targeting critical minerals such as lithium, antimony, and tungsten, which are in demand for clean energy, defense, and electric vehicle supply chains [4]. - Hertz Energy's diversified portfolio and well-located claims could enhance future resource development and strategic initiatives as the company seeks growth opportunities [4].