Hillcrest to Trade on OTCQB in the US

October 19, 2020 – TheNewswire – VANCOUVER, B.C. Hillcrest Petroleum Ltd. (TSXV:HRH) (OTC:HLRTF) (the "Company") is pleased to announce that, effective Monday October 19th, it has been invited to trade on the OTCQB in the United States. The company will trade under the symbol HLRTF in the US.

"Being approved and invited to trade on the OTCQB is a key step in the company’s objective of accessing a potentially wider investor base." states Don Currie, Hillcrest CEO. "Expanding and transitioning the company from an oil and gas producer to licensing, marketing and deployment of a US patented clean energy technology, gives Hillcrest a wider global focus. Accessing the global investment community requires the company to pursue all avenues for investors to access and trade our shares. The OTCQB offers value for the company and allows a more streamlined process for the majority of US investors to trade our shares."

ABOUT THE COMPANY

Hillcrest is a Canadian oil and gas producer and operates multiple wells on two projects in the province of Saskatchewan. To complement its oil and gas production, Hillcrest is also pursuing opportunities related to clean energy technology with the potential to substantially reduce greenhouse gas emissions through its 50% ownership in ALSET Innovations Inc. ALSET is a technology partnership with rights to exclusively license and market innovative efficient power generation and electric motor technologies in the USA and also to exclusively market this technology in the EU.

ON BEHALF OF THE BOARD

Donald Currie

Chief Executive Officer and Director

For more information on Hillcrest Petroleum Ltd., contact Donald Currie toll free at 1-855-609-0006 or visit the Company’s website at www.hillcrestpetroleum.com.

Cautionary Statement Regarding "Forward-Looking" Information

Some of the statements contained in this news release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as "expects", "intends", "is expected", "potential", "suggests" or variations of such words or phrases, or statements that certain actions, events or results "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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