VANCOUVER, British Columbia, April 28, 2021 (GLOBE NEWSWIRE) – via InvestorWire – Hunter Technology Corp. (TSX-V: HOC; OTCQB: HOILF; WKN: A2QEYH, FSE: RWPM, ISIN: CA4457371090) (“Hunter” or the “Companies”) Pleased to announce the year-end results for the year ended December 31, 2020.
In the fourth quarter, the company completed a series of reorganizations and transactions that resulted in a material change in business operations, an increase in its balance sheet and an improvement in capitalization. Key transactions completed during the year include:
- the successful change of business and name change to Hunter Technology Corp .;
- $ 2,000,000 for a private placement financing;
- Beginning of the company’s development OilEx and Oil replacement Platforms;
- Acquire 100% of the outstanding shares of FinFabrik Limited in exchange for:
- 12,110,203 shares of common stock at an assumed price of $ 0.90 per share and;
- $ 250,000 in cash
- Company’s total assets increase to $ 11.8 million
Florian M. Spiegl, CEO of Hunter, commented: “2020 was a year of change and reorientation for Hunter. The company successfully completed several key transactions in moving from oil exploration and production to the technology sector to enable sustainable global production and trading in energy resources. An improved balance sheet and financial ratios form a solid basis for the development of our technology platforms and market entry in 2021. “
Choose Financial Highlights *:
|For the years ending December 31st||2020||2019||change|
|Cash on hand||1,665,936||1,111,717||50||%.|
|Loss for the year||(1,093,439||)||(613.836||)||78||%.|
|Per share basic & diluted||(0.05||)||(0.04||)||25th||%.|
* Complete the audited financial statements on the company’s website and at www.sedar.com
With the completion of the FinFabrik acquisition, the company has shifted its focus to developing OilEx, a digital marketplace for connecting independent producers with international buyers of physical oil, with a private trial of the platform going live in the first quarter. It will continue on its way to planned pilot transactions in the third quarter and public launch of the platform in the fourth quarter.
About Hunter Technology Corp.
Hunter Technology Corp. develops interactive software platforms based on blockchain technology that digitize and streamline physical oil trading throughout the transaction lifecycle. With its solutions, Hunter offers more economic efficiency and fair market access for everyone and promotes the transition to an environmentally and ethically responsible ecosystem. The flagship product OilEx will bring independent oil producers, buyers and traders together in a trustworthy digital market in order to optimize prices, simplify processes, improve transparency and support a reduced carbon footprint. Through its data analytics capabilities, Hunter will provide real-time supply chain management tools to track hydrocarbon origins, handling and processing, and environmental, social and governance (ESG) compliance throughout their lifecycle.
ON BEHALF OF THE MANAGEMENT BOARD
Florian M Spiegl
You can find more information on our Website at www.huntertechnology.com
Neither the TSX VENTURE EXCHANGE nor its regulatory services provider (as that term is defined in the policies of the TSX VENTURE EXCHANGE) accepts responsibility for the adequacy or accuracy of this publication.
Cautionary Statement Regarding Forward-Looking Information.
This press release contains certain statements that may constitute forward-looking statements or information (collectively, “forward-looking statements”) regarding Hunter’s business development plans. Forward-looking statements are statements that relate to future rather than past events. In this context, forward-looking statements often relate to expected future business and financial performance, including factors beyond Hunter’s control, and often contain words such as “anticipate,” “believe,” “plan,” “estimate,” ” expect “and” intention “, statements that an act or event” may “,” could “,” could “,” should “,” will “or” on the right track “is about to be taken or to occur, or other similar expressions. All statements contained herein, other than historical facts, are forward-looking statements. By their very nature, forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual results, performance or success or other future events to differ materially from future results, performance or achievements expressed or implied by such forward-looking statements Statements (including execution risk, market risk, industry risk, market reaction, the effects of general economic conditions and competition from other industry participants, and volatility in the stock markets). In this press release, forward-looking statements relate to, among other things, Hunter’s business development plans and Hunter’s future performance in the development of its business. Although Hunter believes the expectations in its forward-looking statements are reasonable, they are based on factors, estimates and assumptions about future events that could prove to be inaccurate. These factors and assumptions are based on currently available information. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could affect actual results or events and cause actual results or events to differ materially from those expressed, expected or implied in the forward-looking statement. These factors include but are not limited to: risks related to delays, development and commercialization risks, unforeseen requirements due to the COVID-19 pandemic, raw material prices, inability to access sufficient capital on favorable terms from internal and external sources, ability to access employees, to discontinue and maintain them; regulatory changes and implications, timing and completion of the company’s online platforms, and general business, economic, competitive, political and social uncertainties. Therefore, readers are cautioned not to place undue reliance on any forward-looking statements as no assurance can be given as to future results, activities or achievements. The forward-looking statements contained in this press release speak as of the date of this press release. Except as required by law, Hunter assumes no obligation to publicly update or revise any forward-looking statements contained therein. whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this warning notice. Trading in Hunter securities should be viewed as highly speculative. There can be no guarantee that Hunter will achieve all or any of its suggested goals. Please review Hunter’s SEDAR filings, including the management discussion and analysis, available on the Company Profile at www.sedar.com for a more in-depth discussion of the risk factors affecting Hunter.
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