Vancouver, British Columbia--(Newsfile Corp. - November 25, 2020) - Hunter Technology Corp. (TSXV: HOC) (OTCQB: HOILF) (WKN: A2QEYH) (FSE: RWPM) (ISIN: CA4457371090) ("Hunter" or the "Company") has received a request by the OTC Markets Group to comment on recent promotional activity related to Hunter's common shares traded on the OTC Markets.
On November 23, 2020, the Company became aware that Bello Capital Partners produced and disseminated a corporate profile published without the knowledge or consent of the company through New Edge Media, Inc.'s TRAADR brand as per the disclaimer in the corporate profile. The Company was not aware of these promotional materials prior to receiving copies from OTC Markets. On November 24, 2020, the Company learned that Bello Capital Partners had produced and distributed these promotional materials for the purpose of securing a corporate advisory and marketing contract with the Company. The Company has not hired either Bello Capital Partners or New Edge Media, Inc. and neither the Company nor its officers were involved, directly or indirectly, in the creation, distribution, dissemination or payment for the promotional materials, including through any third-party service provider.
The promotional materials appear to provide an overview of the Company's business and also appear to make several speculative claims regarding the Company's prospects. The promotional materials are based upon information made available by the Company, including the Company's news releases and investor presentations. The Company does not believe that the promotional materials have had a effect on the trading activity in the Company's common shares. The Company had no editorial control over the content or the promotional materials. The Company has reviewed the promotion materials and while it does consider the materials to be speculative it does not consider the statements made in the promotional materials to be materially false or misleading.
Upon inquiry of Company management, none of the Company's officers, directors or greater than 10% shareholders, or any third-party service providers, have (i) directly or indirectly been involved in the creation of, distribution of, or payment for promotional materials related to the Company or its common shares or (ii) sold or purchased any of the Company's securities in the past 90 days (with the exception of an incentive stock option grant to senior officers of the Company disclosed by the Company in a news release dated November 17, 2020, and which incentive stock options will not vest until, at the earliest, March 17, 2021. The strike price of the options granted was not at a discount to market).
Over the last year, the Company has engaged one third party provider for investor relations, public relations, marketing, advertising and other related activities: Hybrid Financial Ltd. (see Company News Release dated November 13, 2020).
During the past two years the Company has not issued any common shares or instruments convertible into common shares or other equity securities at a price constituting a discount to the market rate at the time of issuance other than as follows: on November 2, 2020 the Company issued 13,333,333 common shares in a private placement transaction at a price of USD $0.1125 per common share, subject to a resale restriction expiring March 3, 2021. The market rate on OTC Markets at the time of issuance was USD $0.20 per common share. The share price constituted a discount of 44% to the closing price of the Company's common shares on the date of issuance, and a 25% discount to the closing price of the Company' common shares on the date of announcement of pricing of the private placement. The issuance was made in compliance with the pricing policies of the TSX Venture Exchange. Prior to this two-year period, from incorporation on February 22, 1980 there have been numerous instances where the Company issued equity securities at prices which constituted a discount to the market rate at the time of the issuance. All such issuances were in compliance with the pricing policies of the TSX Venture Exchange.
Below is a list of News Releases issued by the Company in 2020:
- September 14, 2020: "Hunter Announces Development of Oilex Oil Trading Platform, Name Change, Forward Split & Private Placement Financing"
- October 20, 2020: "Hunter Receives Conditional Approval of Change Of Business from TSX Venture Exchange; Setting Of Record Date For Forward Split and Repricing Private Placement"
- October 22, 2020: "Hunter Submits Change of Business Filing Statement"
- November 2, 2020: "Hunter Closes $2,000,000 Financing, Completes 3:2 Forward Split and Name Change"
- November 12, 2020: "Hunter Technology Provides Corporate Update"
- November 13, 2020: "Hunter Technology Engages Hybrid Financial"
- November 17, 2020: "Hunter Technology Secures Seasoned Tech Executives"
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
Andrew Hromyk
Chief Executive Officer
(888) 977-0970
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/68992
