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Zug, Switzerland, Hong Kong, China and Vancouver, British Columbia--(Newsfile Corp. - November 16, 2021) - Hunter Technology Corp. (TSXV: HOC) (OTCQB: HOILF) (WKN: A2QEYH) (FSE: RWPM) (ISIN: CA4457371090) ("Hunter" or the "Company") is pleased to announce the completion of its business review, as well as the initial progress of its commercialisation efforts and non-brokered private placement.
Under the leadership of Interim CEO Alain Fernandez, Hunter successfully completed a review of its strategy across all major business dimensions. The review was conducted to determine how best to leverage the Company's existing IP and market-ready software solutions to reposition it for growth.
The Company has identified and is working with both distribution and commercial partners to support the commercialization of Hunter Marketplace Solutions ("HMS"), a product suite designed for the rapid customisation and launch of digital marketplaces. "Partnerships with industry subject matter experts are a key pillar to the new HMS distribution strategy and we will be looking to enter into a number of strategic partnerships going forward," said Mr. Fernandez.
This new distribution strategy now has the Company actively working with a partner to bring HMS to unserved markets in Africa, with an initial focus on the hydrocarbon sector. This project will serve as a blueprint for further partnerships to target local networks on a global scale. Additionally, Hunter is actively exploring opportunities for close collaboration with industry partners with the intention of expanding the HMS offering and features through the inclusion of third-party blockchain based modules.
To support the implementation of the new commercial strategy and to scale distribution efforts, the Company is pleased to announce that it will be conducting a non-brokered private placement of common shares in the capital of the Company ("Common Shares") at a price of $0.22 per share for aggregate gross proceeds of up to $700,000 (the "Offering").
All Common Shares issued in connection with the Offering will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About Hunter Technology Corp.
Hunter Technology Corp. is a blockchain marketplace company that has developed proprietary technologies that digitalise and streamline transaction lifecycles for underserved and inefficient markets. With its Hunter Marketplace Solutions ("HMS") product, the Company supports the creation of customised marketplaces and enhanced data analytics capabilities that deliver more favourable economics and fair market access for all, as well as supporting numerous ESG opportunities throughout transactional ecosystems. The first such HMS-powered solution is OilEx, which will connect independent oil producers, buyers, and traders in a trusted digital marketplace to optimize prices, simplify processes, improve transparency, and support a reduced carbon footprint.
ON BEHALF OF THE BOARD OF DIRECTORS
Interim Chief Executive Officer
Neither the TSX Venture Exchange Inc. ("Exchange") nor its regulation services provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this press release.
This press release contains forward-looking information and forward-looking statements (collectively, "forward-looking statements") as such terms are defined by applicable securities laws. Forward-looking statements are statements that relate to future, not past, events, including the Offering and the commercialisation and distribution of the HMS. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as "anticipate," "believe," "plan," "estimate," "expect," and "intend," statements that an action or event "may," "might," "could," "should," or "will" be taken or occur, or other similar expressions. Forward-looking statements are subject to a number of known and unknown risks and uncertainties, many of which involve factors or circumstances that are beyond Hunter's control and Hunter's actual results could well differ materially from those stated or implied in forward-looking statements due to many various factors. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, the Company cannot guarantee that the events and circumstances reflected in the forward-looking statements will be achieved or occur. The timing of events and circumstances and actual results could differ materially from those projected in the forward-looking statements. Accordingly, one should not place undue reliance on forward-looking statements. All forward-looking statements contained in this press release are made as of today's date and Hunter undertakes no obligation to update or publicly revise any forward-looking statements, whether as a result of new information, future events or otherwise.
NOT FOR DISSEMINATION IN THE U.S. NOR FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN
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