Hillcrest closes debt settlement

Hillcrest Closes Debt Settlement

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VANCOUVER, BC / ACCESS Newswire / 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 the Debt 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 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 Ltd.

Hillcrest Energy Technologies is an energy technology company focused on providing advanced power conversion technologies and digital control systems for next-generation powertrains and grid-connected renewable energy systems. 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 RelationsDon CurrieO: +1 604-609-0006Toll-free: 1 855-609-0006

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