VANCOUVER, British Columbia, Dec. 02, 2020 (GLOBE NEWSWIRE) -- via InvestorWire - 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 appointed Mr. Jim Daley as its Senior Advisor on Physical Hydrocarbon Trading. Mr. Daley will support Hunter's technology executives and their team in the development of the OilEx and OilExchange platforms, providing guidance and advice on all aspects of the marketing and trading of physical crude oil throughout the trade life-cycle.
Mr. Daley has over 45 years of experience in the oil industry, beginning his career with Chase Manhattan Bank, following which he spent 13 years at Marc Rich + Co AG (now Glencore Xstrata Plc.), progressing to Partner and Global Head of Crude Oil Trading. In this role, Mr. Daley was responsible for managing approximately 1 million barrels per day of physical crude oil trading as well as the associated derivative trading, freight, finance and operations.
In 1990, Mr. Daley founded Masefield AG where he held the position of Executive Chairman until 2012. During his tenure, the business grew to a turnover of USD $4.5 billion in physical trading and USD $7 billion in associated derivative trading and shipping. As Executive Chairman Mr. Daley was responsible for oversight of Masefield AG's worldwide activities spanning physical crude oil, petroleum products, natural gas, steam coal, bio-fuels and petrochemicals. In 2004, while overseeing Masefield AG's global operations, Mr. Daley founded International Energy Group AG; a spin-out from Masefield AG for the handling of all non-commodity-business assets. Mr. Daley oversaw both the divestiture and public-market listings of these assets through his position as Executive Chairman. Since 2012, Mr. Daley has remained active in physical oil trading while also consulting to a wide range of industry participants.
"We are excited to engage Mr. Daley in his capacity as Senior Advisor to Hunter," said Andrew Hromyk, Hunter's CEO. "It's imperative that the development of our platform technology is driven by industry demands and requirements. Through Mr. Daley's appointment, Hunter gains access to extensive knowledge and experience garnered from decades of real-world physical commodity trading activities, specifically, the buying and selling of physical crude oil and related post-trade process management and logistics. Our OilEx and OilExchange interfaces must resemble existing trading norms while providing a new standard for governments, sovereigns and independent producers seeking to streamline consistent and repetitive transactions in a secure environment."
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 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, 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.
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