Mr. Don Currie reports

HILLCREST ANNOUNCES SHARES FOR DEBT SETTLEMENT

Hillcrest Energy Technologies Ltd. proposes to enter into debt settlement agreements with certain arm's-length creditors, pursuant to which the company will issue 611,111 units of the company at a price of 18 cents per unit in full satisfaction and final settlement of an aggregate of $110,000 in debt owed to the creditors.

Each unit will consist of one common share in the capital of the company and one share purchase warrant. Each warrant will entitle the holder to purchase an additional share at a price of 20 cents per warrant share for a period of 24 months following the date of issuance of the warrant.

All securities issued in connection with the offering 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 company further announces that it has granted stock options to a consultant of the company to purchase up to one million common shares pursuant to the company's share option plan. The options vest immediately and are exercisable on or before July 20, 2030, at a price of 18 cents per common share.

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 Canadian Securities Exchange under the symbol HEAT, on the OTCQB Venture Market as HLRTF and on the Frankfurt Stock Exchange as 7HI.

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