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FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, BC, September 3, 2026 — Hillcrest Energy Technologies Ltd. (CSE: HEAT) ( FRA: 7HI) (“Hillcrest” or the “Company”) is pleased to announce that, further to its news release dated July 21, 2026, the Company has closed the debt settlement with certain arm’s length creditors (the “Debt Settlement”). Pursuant to theDebt Settlement, the Company issued an aggregate of 783,870 units of the Company (each, a “Unit”) at deemed price of $0.18 per Unit in full satisfaction of an aggregate amount of $141,096.64 owing to such certain arm’s length creditors.
Each Unit consists of one common share in the capital of the Company (a “Share”) and one Share purchase warrant (a “Warrant”). Each Warrant entitles the holder to purchase an additional Share (a “Warrant Share”) at a price of $0.20 per Warrant Share for a period of 24 months following the date of issuance of the Warrant.
All securities issued in connection with the Debt Settlement are subject to a statutory hold period of four months and one day following the date of issuance in accordance with applicable Canadian securities laws.
The securities of the Company referred to in this news release have not been and will not be registered under the UnitedStates 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 theU.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 Ltd.
Hillcrest Energy Technologies Ltd. (CSE: HEAT | OTCQB: HLRTF | FRA: 7HI) is a Canadian clean technology company developing advanced power conversion technologies and digital control systems for next-generation energy applications, including AI data centers, energy storage, microgrids, and electric-vehicle powertrains. The Company’s proprietary Zero Voltage Switching (ZVS) technology has been independently validated at the facilities of global automotive OEMs and Tier One suppliers. For more information: https://hillcrestenergy.tech/
CONTACT INFORMATION
Investor Relations
Don Currie
+1-604-609-0006
Toll-free: 1-855-609-0006
Public Relations
Jamie Hogue
+1 602-793-9481
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAS REVIEWED OR ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
FORWARD-LOOKING INFORMATION
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 December 31, 2025, 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.