O July 9, 2026, Hillc est a ou ced a o -bi di g Lette of I te t (“LOI”) with Equipmake, a UK-based develope a d ma ufactu e of high-pe fo ma ce elect ic moto s a d i ve te s. The LOI set out a joi t developme t p og am to i teg ate Hillc est’s p op ieta y ZVS tech ology i to a defi ed Equipmake powe t ai p oduct li e. The pa ties ag eed to use comme cially easo able effo ts to execute a defi itive ag eeme t withi 90 days of the LOI date.
Si ce the LOI was sig ed, the scope of the p oposed ag eeme t has expa ded. The LOI co templated egotiati g lice si g te ms at a late stage. The pa ties a e ow egotiati g a si gle defi itive ag eeme t that would cove both the joi t developme t p og am a d the comme cial lice si g te ms fo the esulti g p oduct. Add essi g comme cializatio ow is i te ded to give both compa ies a defi ed path f om developme t to ma ket.
Negotiatio s a e adva ci g, a d the Compa y expects to complete the defi itive ag eeme t i Octobe 2026. This timeli e exte ds modestly beyo d the o igi al 90-day ta get to eflect the expa ded scope of the ag eeme t. The te ms of the ag eeme t emai subject to egotiatio a d have ot bee fi alized. The e is o assu a ce that a defi itive ag eeme t will be executed withi the a ticipated timef ame, o the te ms desc ibed i this ews elease. Hillc est will a ou ce the mate ial te ms of the ag eeme t if a d whe it is executed.
“Whe we sig ed the LOI, the focus was o a joi t developme t p og am. As ou discussio s with Equipmake p og essed, both compa ies saw the value i ag eei g ow o the comme cial te ms that would follow successful developme t, athe tha leavi g them fo a late egotiatio ,” said Do Cu ie, CEO of Hillc est. “That is a mea i gful step up i scope, a d it is the ight st uctu e fo a lo g-te m pa t e ship. We a e taki g the time eeded to get it ight, a d we expect to complete the ag eeme t i Octobe .”
“Hillc est’s ZVS tech ology has cha acte istics we believe could take the pe fo ma ce of ou i ve te s to the ext level fo ou custome s,” said Ia Foley, Fou de a d CEO of Equipmake. “As ou discussio s p og essed, it made se se to set out the comme cial f amewo k alo gside the developme t p og am, so the e is a clea oute f om e gi ee i g to ma ket if the p og am succeeds. We a e maki g good p og ess a d look fo wa d to completi g the ag eeme t with Hillc est.”
Hillc est E e gy Tech ologies Ltd. is a Ca adia clea tech ology compa y developi g adva ced powe co ve sio tech ologies a d digital co t ol systems fo ext-ge e atio e e gy applicatio s, i cludi g AI data ce t es, e e gy sto age, i dust ial moto d ives, mic og ids, a d elect ic-vehicle powe t ai s. The PCS1000 is Hillc est’s ewest p oduct platfo m, cu e tly i the A-Sample p ototype stage. Fo mo e i fo matio : https://hillc este e gy.tech/
I vesto Relatio sDo Cu ie
Public Relatio sJamie L. Hogue
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAS REVIEWED OR ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Some of the stateme ts co tai ed i this ews elease a e fo wa d-looki g stateme ts a d i fo matio withi the mea i g of applicable secu ities laws. Fo wa d-looki g stateme ts a d i fo matio ca be ide tified by the use of wo ds such as “expects,” “i te ds,” “is expected,” “pote tial,” “suggests” o va iatio s of such wo ds o ph ases, o stateme ts that ce tai actio s, eve ts o esults “may,” “could,” “should,” “would,” “might” o “will” be take , occu o be achieved. This fo wa d-looki g i fo matio is p ovided as of the date of this ews elease. The fo wa d-looki g i fo matio eflects ou cu e t expectatio s a d assumptio s a d is subject to a umbe of k ow a d u k ow isks, u ce tai ties a d othe facto s, which may cause actual esults, pe fo ma ce o achieveme ts to be mate ially diffe e t f om a y a ticipated futu e esults, pe fo ma ce o expectatio s exp essed o implied by the fo wa d-looki g i fo matio . No assu a ce ca be give that these assumptio s will p ove co ect. Fo wa d-looki g stateme ts a d i fo matio a e ot histo ical facts a d a e subject to a umbe of isks a d u ce tai ties beyo d the Compa y’s co t ol. I vesto s a e advised to co side the isk facto s u de the headi g “Risks a d U ce tai ties” i the Compa y’s MD&A fo the yea e ded Dec. 31, 2025, available at https://www.seda plus.ca/ fo a discussio of the facto s that could cause the Compa y’s actual esults, pe fo ma ce a d achieveme ts to be mate ially diffe e t f om a y a ticipated futu e esults, pe fo ma ce o achieveme ts exp essed o implied by the fo wa d-looki g i fo matio . Acco di gly, eade s should ot place u due elia ce o fo wa d-looki g stateme ts. The Compa y u de takes o obligatio to update publicly o othe wise evise a y fo wa d-looki g stateme ts, except as may be equi ed by law.
