HK Battery Technology, Inc. announced that it has received $50 million in funding from Lianyungang HK New Energy Vehicle System Integration Corporation

On September 4, 2015, HK Battery Technology, Inc. (OTCPK:HKBT) closed the transaction. The company issued 66,666,667 shares for gross proceeds of $50,000,000.25. The minimum investment accepted from any outside investor is $50,000,000.

The securities were issued pursuant to exemption provided under Regulation D. The company had expected to issue 126,666,667 common shares for the gross proceeds of $95,000,000.