Hero Technologies Inc (HENC)

[buccaneer1961]

Holloman insiders buy $1.725 million Cash Restricted Private Placement at .255 plus .70 and 2.00 warrants.

Obviously management must think they have something big going here. I can't remember the last time I saw a BB company's Management and Directors put this much cash into a company at a premium. Usually they just take the stock for free smile



Holloman Energy Completes Securities Placement With Holloman Corp., Officers and Directors
Friday October 3, 10:00 am ET
HENC's Private Placement of Securities Raises $1.725 Million


HOUSTON, Oct. 3, 2008 (GLOBE NEWSWIRE) -- Effective September 30, 2008, Holloman Energy Corporation (OTC BB:HENC.OB - News) (``the Company'' or ``HENC''), completed a $1.725 million private placement of its restricted corporate securities. Under the terms of a private offering approved by its Board of Directors, the Company sold 6,764,706 investment units at a price of $0.255 per unit to its controlling shareholder, Holloman Corporation, and other of its Officers and Directors. The investment Units consisted of one share of restricted common stock, two (2) stock purchase warrants. The Stock purchase warrants entitle the holder to purchase one share of the Company's restricted common stock at a price of $0.70 per share and one share of the Company's restricted common stock at a price of $2.00 per share. These warrants expire September 31, 2011. No fees or commissions were paid in connection with this offering.
About Holloman Energy

Holloman Energy Corp. is an emerging international exploration and development independent. The Company currently holds interests, varying between 37.5% and 100%, in six oil and gas permits awarded by the Australian government. These permits encompass in excess of 1.7 million acres in the Cooper, Gippsland and Barrow basins.

Forward-Looking Statements:

This press release includes forward-looking statements as determined by the U.S. Securities and Exchange Commission (the ``SEC''). All statements, other than statements of historical facts, included in this press release that address activities, events, or developments that the Company believes or anticipates will or may occur in the future are forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and changes in consumer and business consumption habits and other factors over which the Company has little or no control. The Company does not intend (and is not obligated) to update publicly any forward-looking statements. The contents of this press release should be considered in conjunction with the warnings and cautionary statements contained in the Company's recent filings with the SEC.


ON BEHALF OF THE BOARD OF DIRECTORS
Holloman Energy Corporation
http://www.hollomanenergy.com



Contact:
Holloman Energy Corporation
Grant Petersen
[phone]