Hunter Technology Proactive Response to COVID Challenges
Vancouver, British Columbia--(Newsfile Corp. - February 22, 2021) - Hunter Technology Corp. (TSXV: HOC) (OTCQB: HOILF) (WKN: A2QEYH) (FSE: RWPM) (ISIN: CA4457371090) ("Hunter" or the "Company") announces a shift in operational and business expansion priorities in response to challenges arising from the ongoing COVID19 pandemic and lockdowns reducing the Company's abilities to expand its team in the UK led by Alex Medana, it is pivoting and reacting to centralize its business development and operations in Hong Kong and cancelling its UK office roll-out plan. This reorganization of the Company's resources will reposition leadership whereby Dr. Florian M. Spiegl, the Company's Chief Operating Officer and co-founder of FinFabrik Limited has assumed the role of Chief Executive Officer. Dr. Spiegl and the FinFabrik development team are based in Hong Kong.
"The move to concentrate our development team in Hong Kong acknowledges the difficulties of operating in the UK," said Dr. Spiegl. "COVID19 has presented many global challenges and I believe that Hong Kong offers the best opportunities for business development going forward and to leverage our experienced team of software engineers and product specialists in a more focused setup."
Alex Medana, the Company's former Chief Executive Officer and the other co-founder of FinFabrik, has stepped down from his management role for personal reasons. Mr. Medana said: "I wish the team at Hunter the best going forward and fully expect them to capitalize on the great opportunities in this market." The Company extends to Mr. Medana its best wishes as Mr. Medana and his family work through the COVID19 challenges in the UK.
About Hunter Technology Corp.
Hunter Technology Corp. is a technology provider developing interactive blockchain platforms to enable the facilitation of physical oil transactions throughout the trade lifecycle, with more favorable 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. Through oilexchange.com, Hunter will offer robust supply chain management tools that track physical oil throughout the supply chain and automate the reporting process via this blockchain enabled platform.
ON BEHALF OF THE BOARD OF DIRECTORS
Florian M. Spiegl
Chief Executive Officer
For further information, visit our website at www.huntertechnology.com
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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. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, including factors beyond Hunter's control, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", "will" or be "on track to" be taken or occur, or other similar expressions. All statements, other than statements of historical fact, included herein are forward-looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements (including execution risk, market risk, industry risk, market reaction, the impact of general economic conditions and competition from other industry participants, as well as stock market volatility). In this news release, forward-looking statements relate to, among other things, Hunter's business development plans as well as Hunter's future performance as it develops its business. Although Hunter believes that the expectations in its forward-looking statements are reasonable, they are based on factors, estimates 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 statement. Such factors include, but are not limited to: risks relating to delays, development and marketing risks, unforeseen requirements resulting from the COVID-19 pandemic, commodity prices, inability to access, on favorable terms, sufficient capital from internal and external sources, the ability to access, hire and retain employees; regulatory changes and impacts, timing and completion of the Company's online platforms as well as general business, economic, competitive, political and social uncertainties. 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 SEDAR filings including its management discussion and analysis available under the Company's profile at www.sedar.com for a more fulsome discussion of risk factors affecting Hunter.
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