VANCOUVER, British Columbia, Dec. 31, 2020 (GLOBE NEWSWIRE) — Hunter Technology Corp. (TSX-V: HOC; OTCQB: HOILF; WKN: A2QEYH, FSE: RWPM, ISIN: CA4457371090) (“Hunter” or the “Company”) is pleased to announce that it has closed the acquisition of FinFabrik Limited (“FinFabrik”).
Hunter has acquired 100% of the issued and outstanding shares of FinFabrik in exchange for 12,110,203 common shares of Hunter (the “Shares”) at a deemed price of USD $0.90 per Share and the payment of USD $250,000 in cash, for total consideration of USD $11,149,182. The Shares issued to the former shareholders of FinFabrik are subject to statutory holds periods as well as a contractual hold period of up to one year. For additional information regarding FinFabrik or the transaction, please see Hunter’s news release dated December 14, 2020, which is available on SEDAR at www.SEDAR.com.
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 (collectively, “forward-looking statements”) regarding Hunter’s 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, market reaction, the impact of general economic conditions and competition from other industry participants, stock market volatility, the ability to access sufficient capital from internal and external sources, and the receipt of final TSX Venture Exchange approval of the acquisition of FinFabrik. 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 affecting Hunter.