Hillcrest Energy Technologies Proposes Debt Settlement with Share Issuance

Hillcrest Energy Technologies Ltd. has announced its intention to settle debts with certain creditors by issuing 611,111 units at $0.18 per unit. This initiative aims to settle $110,000 in debt. Each unit includes one common share and one share purchase warrant, allowing holders to buy an additional share at $0.20 within 24 months.

Securities from this offering will be subject to a hold period of four months and one day under Canadian law. These securities are not registered under U.S. law and cannot be offered or sold in the United States without registration or exemption.

Additionally, Hillcrest has granted a consultant options to purchase up to 1,000,000 common shares at $0.18, exercisable until July 2030. The proposal and grant are pending satisfaction of customary conditions and regulatory approvals.