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Hillcrest Announces Proposed Warrant Amendment

Sep 26, 2025

CSE: HEAT

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, BC, September 26, 2025 – Hillcrest Energy Technologies (CSE: HEAT)(FRA: 7HI) (“Hillcrest” or the “Company”), announces that the Company proposes to amend 4,350,000 warrants exercisable at $0.50 per common share in the capital of the Company (a “Common Share”) until October 4, 2025, originally issued at closing of a non-brokered private placement of 4,350,000 units of the Company on October 4, 2023 (the “Warrants”).

The Company proposes to extend the term of the Warrants to October 4, 2027.  No other changes are contemplated in respect of the terms of the Warrants. None of the Warrants have been exercised as of the date of this news release. The amendments to the Warrants described herein are subject the consent of all holders of the Warrants.

The Chief Executive Officer of the Company holds 280,000 Warrants. The amendment of the Warrants held by the Chief Executive Officer constitutes a “related party transaction” as defined in Multilateral Instrument 61-101 – Protection of Minority Securityholders in Special Transaction (“MI 61-101”). The Company is relying on the exemption from valuation requirements and minority approval pursuant to subsections 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, as the participation by Chief Executive Officer in the amendment of the Warrants does not represent more than 25% of the fair market value of the Company’s market capitalization.

The securities of the Company referred to in this press release have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws. Accordingly, the securities of the Company may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or a solicitation of any offer to buy any securities of the Company in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Hillcrest Energy Technologies

Hillcrest Energy Technologies specializes in innovating and commercializing advanced power conversion technologies for electric vehicles and grid-connected renewable energy systems. The Company is dedicated to developing high-efficiency solutions that reduce energy waste, enhance performance, and drive the next generation of electrification.

Hillcrest is publicly traded on the CSE under the symbol “HEAT,” on the OTCQB Venture Market as “HLRTF,” and on the Frankfurt Exchange as “7HI.” For more information, visit: https://hillcrestenergy.tech.

CONTACT INFORMATION

Investor Relations

Don Currie

dcurrie@hillcrestenergy.tech

+1-604-609-0006

Toll-free: 1-855-609-0006

Public Relations

Jamie Hogue

jhogue@hillcrestenergy.tech

+1 602-793-9481

Hillcrest Announces Proposed Warrant Amendment

The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release.

 

Cautionary Statement Regarding “Forward-Looking” Information

Some of the statements contained in this news release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “expects,” “intends,” “is expected,” “potential,” “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may,” “could,” “should,” “would,” “might” or “will” be taken, occur or be achieved. This forward-looking information is provided as of the date of this news release. The forward-looking information reflects our current expectations and assumptions and is subject to a number of known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to be materially different from any anticipated future results, performance or expectations expressed or implied by the forward-looking information. No assurance can be given that these assumptions will prove correct. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s control. Investors are advised to consider the risk factors under the heading “Risks and Uncertainties” in the Company’s MD&A for the year ended Dec. 31, 2023, available at https://www.sedarplus.ca/ for a discussion of the factors that could cause the Company’s actual results, performance and achievements to be materially different from any anticipated future results, performance or achievements expressed or implied by the forward-looking information. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.