Hillcrest Announces Update on Private Placement of Units

December 19, 2014

CSE: HEAT

VANCOUVER, B.C. – Hillcrest Resources Ltd. (the “Company”) is pleased to announce that further to the Company’s news release of November 4, 2014 announcing the non-brokered private placement of up to 10,000,000 units (the “Units”) at $0.05 per Unit (the “Private Placement”), the Company has received subscriptions for $531,250.00 and expects to close the Private Placement before December 31, 2014.

The Company has changed the terms of the warrants forming part of the Units from 12 months to 24 months following closing of the Private Placement. The Company will pay finder’s fees on the Private Placement within the amount permitted by the policies of the TSX Venture Exchange (the “Exchange”)

Closing of the Private Placement remains subject to final approval of the Exchange. All securities issued under the Private Placement will be subject to resale restrictions of four months from the date of issue.

ON BEHALF OF THE BOARD

Donald Currie
Chief Executive Officer and Director

CONTACT INFORMATION

For more information on Hillcrest Petroleum Ltd., contact Donald Currie toll free at 1-855-609-0006 or visit the Company’s website at www.hillcrestpetroleum.com.

Hillcrest Announces Update on Private Placement of Units

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAS REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS 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 December 31, 2021, available at www.sedar.com 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.

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