Hillcrest Energy Technologies Announces AGM Results

September 16, 2021

CSE: HEAT

VANCOUVER, B.C., September 16, 2021 – Hillcrest Energy Technologies (CSE: HEAT) (OTCQB: HLRTF) (FRA: 7HIA.F) (“Hillcrest” or the “Company”), a clean tech innovation and e-mobility development company, is pleased to announce the results of voting at its Annual General Meeting held Thursday, September 16, 2021.

Shareholders overwhelmingly voted in favour of all items put forward by the Board of Directors (“the Board”) and Management. At the meeting, Mr. David Stone did not stand for re-election and Mr. David Farrell has been elected to the Board.  Hillcrest’s Board now consists of Michael Krzus (Chair), Don Currie (CEO), Tom Milne (Independent), Robert Lambert (Independent), Kylie Dickson (Independent), and David Farrell (Independent).

“Hillcrest would like to thank David Stone for his contributions to our success throughout his longstanding tenure,” said Hillcrest Energy Technologies CEO, Don Currie.  “On behalf of the Board and management team, I would specifically like to acknowledge Mr. Stone’s committed stewardship of the Company as a founding board member over 11 years ago, and through the Company’s successful transition to tech-driven clean energy innovator.”  

David Farrell has over 25 years of corporate and investment banking experience and has negotiated, structured and closed more than US$25 billion worth of M&A and structured financing transactions.  He founded Davisa Consulting, a private consulting firm, in 2011 and previously worked at Endeavour Financial in Vancouver and London, and law firm Stikeman Elliott in Vancouver, Budapest and London.  David serves as a director of Fortuna Silver Mines (TSX:FVI, NYSE: FSM), Northern Vertex Mining (TSXV:NEE) and Luminex Resources (TSXV:LR).  Mr. Farrell graduated from UBC with a B.Comm. (Honours, Finance) and an LL.B and has received the ICD.D designation from University of Toronto Rotman School of Management and the Institute of Corporate Directors.

Shareholder also voted in favour of: (i) receiving and considering the comparative financial statements of the Company for the financial year ended December 31, 2020; (ii) setting the number of Directors at six; (iii) electing Directors for the ensuing year as noted above; (iv) appointing DeVisser Gray LLP, Chartered Professional Accountants as auditor of the Company; (v) approving the adoption of the Company’s Stock Option Plan, as described in the Information Circular; and (vi) approving the adoption of the Company’s Restricted Share Unit Plan, as described in the Information Circular.

About Hillcrest Energy Technologies

Hillcrest Energy Technologies is a clean tech innovation company developing transformative energy conversion devices and control systems for next-generation powertrains. The Company is transitioning from the production of fossil fuels from its West Hazel asset in Saskatchewan, to clean energy technologies that help unlock efficiencies and maximize performance of electric systems including electric vehicles, propulsion systems and renewable energy generation + storage. From concept to commercialization, Hillcrest is investing in the development of energy solutions that will power the future. Hillcrest is publicly traded on the CSE under the symbol “HEAT”, on the OTCQB Venture Market as “HLRTF” and the Frankfurt Stock Exchange as “7HIA.F”.

ON BEHALF OF THE BOARD

Donald Currie

Chief Executive Officer and Director

CONTACT INFORMATION

Don Currie

Tel: +1-604-609-0006

Toll-free: 1-855-609-0006

dcurrie@hillcrestenergy.tech

www.hillcrestenergy.tech

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, 2020 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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