News release NewsPress Releases Hillcrest Partnership Secures Exclusivity to Deploy US Patented Technology for Electrical Generation Applications in the European Union V.HRH| 1 day ago (via TheNewswire) May 28, 2020 -TheNewswire -Vancouver, B.C. -Hillcrest Petroleum Ltd.(the "Company" or "Hillcrest")(TSXV:HRH) (OTC:HLRTF), has secured exclusive rights under a Memorandum of Intent to market and deploy US patented technology in the European Union. The Technology has been demonstrated in laboratory tests to potentially improve power generation and electrical vehicle efficiencies by up to 80%. Hillcrest previously announced an exclusive arrangement to market licenses for this patented technology in the United States. Potential applications include electric vehicles and power generation applications. Hillcrest intends to market the technology through ALSET Innovations Ltd., a private company which will be owned by Hillcrest and its partner. Rights to represent the technology in the USA and EU will become binding upon executing definitive agreements and Hillcrest meeting its MOI conditions. "Hillcrest continues to meet agreement obligations and further build on the opportunity to license, market and deploy the patented technology." Don Currie, Hillcrest CEO states "Our partnership is working to complete definitive agreements and plans to implement material early steps in Hillcrest's energy transition strategy. The EU agreement substantially increases our global market potential and provides Hillcrest with new potential value streams at a time when clean energy is a global priority."