OILEX AND OILEX PLATFORMS
Vancouver, British Columbia–(Newsfile Corp. – November 12, 2020) – Hunter Technology Corp. (TSXV: HOC) (OTCQB: HOILF) (WKN: A2QEYH) (FSE: RWPN) (ISIN: CA4457371090) (“Hunter” or the “Company“) is pleased to provide a corporate update summarizing completed developments.
The Company has completed and closed a private placement financing, raising $2,000,000. The proceeds of the financing will be used to develop the Company’s OilEx and OilExchange platforms and for general corporate purposes.
The Oilex platform, with the domain oilex.com, is being developed to facilitate the buying and selling of physical oil by independent producers to corporate consumers, traders and sovereign purchasers, and will be powered by a proprietary blockchain providing a more efficient order book, improved trust and security, and significant cost savings in comparison to legacy transaction channels.
Within OilEx, Users will access a verified and secure trust-based digital network of buyers and sellers and will be connected to each other by a proprietary smart algorithm that will identify and implement best probable-matching based on User-defined inputs. Buyers, sellers, and traders will have the ability to efficiently plan, schedule and track logistics, with real-time oversight to manage all documentation and payment reconciliations related to each trade cycle through a range of secure digital workflow solutions. Further, users will be able to invite third-party service providers such as insurers, financiers or freight handlers into specific workflows and processes, improving transaction efficiency and creating an immutable single source of truth between all participants.
OilExchange will offer Governments intelligent tools to track the supply chain of hydrocarbons from source to destination through the digitalizing of physical goods and assets to support the streamlining of reporting and communication from crude oil producers.
To better reflect the new direction of the Company, the Company has changed its name from “Hunter Oil Corp.” to “Hunter Technology Corp.” and completed a forward split of its common shares on a 3:2 basis. The Company currently has 33,224,451 shares issued and outstanding, no options and no warrants. The Company’s new CUSIP number is 445737109 and new ISIN is CA4457371090.
About Hunter Technology Corp.
Hunter Technology Corp. is an oil industry service provider developing interactive platforms to enable the facilitation of physical oil transactions throughout the trade lifecycle, with more favourable economics for producers and access to a fair market for all. Through Oilex.com Hunter will operate a physical oil marketplace to facilitate the buying and selling of physical oil by independent producers to corporate consumers, traders and sovereign purchasers. And through oilexchange.com, Hunter will offer robust supply chain management tools that track physical oil throughout the supply chain and automate the reporting process.
ON BEHALF OF THE BOARD OF DIRECTORS
Chief Executive Officer
For further information, visit our website at www.huntertechnology.com
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Cautionary Statement Regarding Forward-Looking Information.
This news release contains certain statements which may constitute forward-looking statements or information regarding Hunters business development plans. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Hunter’s control, including execution risk, market risk, industry risk, the impact of general economic conditions and competition from other industry participants, stock market volatility and the ability to access sufficient capital from internal and external sources. Although Hunter believes that the expectations in its forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. As such, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future results, levels of activity or achievements. The forward-looking statements contained in this news release are made as of the date of this news release and, except as required by applicable law, Hunter does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement. Trading in the securities of Hunter should be considered highly speculative. There can be no assurance that Hunter will be able to achieve all or any of its proposed objectives. Please review Hunter’s Filing Statement dated October 21, 2020 and filed under the Company’s SEDAR profile at www.sedar.com for a more fulsome discussion of risk factors.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/68048