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Hunter Technology Announces Receipt of Management Cease Trade Orders

Hunter Technology Corp.
Hunter Technology Corp.

VANCOUVER, British Columbia, May 04, 2022 (GLOBE NEWSWIRE) -- Hunter Technology Corp. (TSX- V: HOC; OTCQB: HOILF; WKN: A2QEYH, FSE: RWPM, ISIN: CA4457371090) (“Hunter” or the “Corporation”) announces that it has been granted a management cease trade order (“MCTO”) against the Corporation’s chief executive officer and chief financial officer by its principal regulator, the British Columbia Securities Commission.

As previously announced in the Corporation’s press release dated April 18, 2022, the application for the MCTO was made by the Corporation in respect of the late filing of the Corporation’s annual audited consolidated financial statements, management’s discussion and analysis, and chief executive officer and chief financial officer certifications for the financial year ended December 31, 2021 (collectively, the “Required Filings”), which were required to be filed by May 2, 2022.

The Corporation will work diligently with its auditors to file the Required Filings by June 30, 2022. The Corporation confirms that it intends to satisfy the provisions of the alternative information guidelines set out in National Policy 12-203 Management Cease Trade Orders for so long as it remains in default of the filing requirements set out herein.

The Corporation confirms that, as at the date hereof, there are no insolvency proceedings against it and there is no other material information concerning the affairs of the Corporation that has not been generally disclosed.

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 Corporation 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.

For inquiries, please contact:

Dr. Konstantinos Ghertsos
Chief Executive Officer
(778) 655-9202

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.

Forward-Looking Statements

This news release contains forward-looking statements relating to the expected timing of the filing of the Required Filings. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Corporation's expectations are risks detailed from time to time in the filings made by the Corporation with securities regulations. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Corporation will only update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.