HK Battery Technology, Inc. (OTCPK:HKBT) announced that it has entered into a securities purchase agreement with new investor, Billion Energy Holdings Limited for a private placement of 20,000,000 common shares at $1 per share for gross proceeds of $20,000,000 on February 17, 2015. The shares to be issued have a par value of $0.001 per share. The transaction is expected to close on or before March 16, 2015.

The company will issue securities pursuant to exemption provided under Regulation D. The company will not pay any cash commission in connection with the transaction.