Hillcrest Energy Technologies Completes Share-for-Debt Offering

Hillcrest Energy Technologies Ltd. has concluded its Shares for Debt Offering, as previously announced. The company issued 2,912,731 units at $0.18 each, settling $524,299.17 in pre-existing debt. Each unit includes a common share and a warrant. These warrants permit the purchase of an additional share at $0.20 within a year of issuance.

The company resolved $116,899.17 of debt owed to four directors. This falls under related party transactions but exempts from valuation and minority approval, constituting less than 25% of the company's market cap. Issued securities are subject to a Canadian statutory hold period of four months and a day.

Hillcrest securities remain unregistered under the U.S. Securities Act and thus are not for sale within the U.S., except under exemptions. This communiqué does not solicit or offer any securities unlawfully.