Hillcrest Raises Up to $1.2 Million via Non-Brokered Private Placement

Hillcrest Announces Non-Brokered Private Placement Of Units For Gross Proceeds Of Up To $1.2 Million

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

VANCOUVER, BC / ACCESS Newswire / May 27, 2026 / Hillcrest Energy Technologies (CSE:HEAT)(OTCQB:HLRTF)(FRA:7HI) ("Hillcrest" or the "Company"), is pleased to announce a non-brokered private placement (the "Private Placement") of up to 8,000,000 units of the Company (the "Units") at an issue price of $0.15 per Unit, for gross proceeds of up to $1,200,000. In its discretion, the Company may increase or decrease the size of the Offering in accordance with the policies of the Canadian Securities Exchange (the "Exchange").

Each Unit will consist of one common share in the capital of the Company (each, a "Share") and one Share purchase warrant (each, a "Warrant"). Each Warrant will entitle 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.

The Company intends to use the proceeds from the Private Placement for retirement of existing accounts payable, payment of new advisors and consultants, and general working capital purposes.

In connection with the Offering, the Company may pay finders' fees in cash or Units on identical terms to the Units in the Offering, to certain finders, as permitted by the policies of the Exchange. There is no minimum number of Shares or minimum aggregate proceeds required to close the Offering and the Company may, at its discretion, elect to close the Offering in one or more tranches.

The securities issued pursuant to the Offering are subject to a statutory hold period of four (4) months plus a day from the date of issuance in accordance with applicable securities legislation. Closing of the Offering and the issuance of the Shares are subject to a number of conditions, including receipt of all necessary regulatory and corporate approvals, including approval from the Exchange.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States or to any "U.S. Person" (as such term is defined in Regulation S under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act")) of any equity or other securities of the Company. The securities described herein have not been, and will not be, registered under the U.S. Securities Act or under any state securities laws and may not be offered or sold in the United States or to a U.S. Person absent registration under the 1933 Act and applicable state securities laws or an applicable exemption therefrom. Any failure to comply with these restrictions may constitute a violation of U.S. securities laws.

About Hillcrest Energy Technologies Ltd.

Hillcrest Energy Technologies is a Canadian clean technology company focused on developing and commercializing advanced power conversion technologies and digital control systems for next-generation powertrains and grid-connected energy systems. The Company's proprietary Zero Voltage Switching (ZVS) technology platform is being commercialized across multiple markets, including next-generation AI data centers, microgrids, and electric vehicle powertrains. From concept to commercialization, Hillcrest is investing in the development of energy solutions that will power a more sustainable and electrified future.

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, please visit: https://hillcrestenergy.tech/

CONTACT INFORMATION

Investor Relations
Don Currie info@hillcrestenergy.tech O: +1 604-609-0006
Toll-free: 1 855-609-0006

Public Relations
Jamie L. Hogue jhogue@hillcrestenergy.tech
O: +1 602-793-9481

Cautionary Statement Regarding "Forward-Looking" Information

Certain statements in this press release may contain forward-looking information (within the meaning of Canadian securities legislation), including, without limitation, the completion of the Offering, the intended use of proceeds from the Offering, the payment of finders' fees and issuance of securities in connection therewith. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties, and other factors, which may cause the actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the statements. Forward-looking statements speak only as of the date those statements are made. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, market prices, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable law, the Company assumes no obligation to update or to publicly announce the results of any change to any forward-looking statement contained or incorporated by reference herein to reflect actual results, future events or developments, changes in assumptions, or changes in other factors affecting the forward-looking statements. If the Company updates any forward-looking statement(s), no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements.

Neither Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Hillcrest Energy Technologies Ltd.

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