Hillcrest Announces Closing of Non-brokered Private Placement of Units

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

VANCOUVER, June 16, 2026 - Hillcrest Energy Technologies (CNSX:HEAT)(OTCQB:HLRTF)(FSE:7HI) ("Hillcrest" or the "Company"), is pleased to announce that, further it is news release of May 27, 2026, the Company has closed its previously announced non-brokered private placement of 7,968,319 units of the Company (the "Units") for gross proceeds of $1,195,247.85 at a price of $0.15 per Unit (the "Offering").

Each Unit consists of one common share in the capital of the Company (a "Common Share") and one Common Share purchase warrant (a "Warrant"). As a result, the Company issued a total of 7,968,319 Common Shares and 7,968,319 Warrants pursuant to the Offering.

Each Warrant entitles the holder thereof to acquire one Common Share at an exercise price of $0.20 per Common Share for a period of 24 months from the date of issuance.

It is intended that the proceeds from closing of the Offering will be used for retirement of existing accounts payable, payment of new advisors and consultants, and general working capital purposes.

In connection with the closing of the Offering, the Company paid aggregate cash finder's fees of $19,999.99 and issued an aggregate of 133,333 non-transferable finder's warrants (the "Finder's Warrants") to eligible arm's length finders. Each Finder's Warrant is exercisable into one Common Share at a price of $0.20 per Common Share for a period of twenty-four (24) months from the date of issuance.

The securities issued in connection with the Offering, including any Common Shares issuable upon the exercise of the Warrants and Finder's Warrants, are subject to a statutory four month and one day hold period, in accordance with the policies of the CSE and applicable Canadian 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

THE SECURITIES OF THE COMPANY REFERRED TO IN THIS PRESS 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.

FORWARD-LOOKING INFORMATION

This press release contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements". Forward-looking statements in this press release include, but are not limited to, the expected use of proceeds from the Offering. Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; political and regulatory risks; risks related to the maintenance of stock exchange listings; and other risks and uncertainties related to the Company's business detailed elsewhere in the Company's disclosure record. Additional information on these and other risk factors can be found in the Company's continuous disclosure documents available under its profile on SEDAR+ at www.sedarplus.ca.

Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections.

SOURCE: Hillcrest Energy Technologies Ltd.