Hunter Comments on Recent Promotional Activity Pursuant to OTC Markets Requests
Vancouver, British Columbia--(Newsfile Corp. - March 30, 2021) - 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 March 26, 2021, the Company became aware that Stellar Media Group LLC produced and disseminated a corporate profile published without the knowledge or consent of the company through BEAT Penny Stocks and PENNYPICKS brands as per the disclaimer in their corporate profile. The Company was not aware of these promotional materials prior to receiving copies from OTC Markets. The Company has not hired either Stellar Media Group, 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 an 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 made to senior officers of the Company disclosed by the Company in a news release dated November 22, 2020, and which incentive stock options will not vest until, at the earliest, June 22, 2022. The strike price of the options granted was not at a discount to market).
Over the last year, the Company has engaged two third-party providers for investor relations, public relations, marketing, advertising and other related activities: Hybrid Financial Ltd. (see Company News Release dated November 13, 2020) and Star Finance GMBH (See Company News Release dated December 9, 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.
About Hunter Technology Corp.
Hunter Technology Corp. develops interactive software platforms powered by blockchain technology that digitalize and streamline physical oil trading throughout the transaction lifecycle. With its solutions, Hunter delivers more favorable economics and fair market access for all and promotes the transition towards a more environmentally and ethically responsible ecosystem. Its flagship product OilEx 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. Through its data analytics capabilities, Hunter will offer real time supply chain management tools for tracking the origin, transhipment and processing of hydrocarbons and the environmental, social and governance (ESG) compliance during their life cycle.
ON BEHALF OF THE BOARD OF DIRECTORS
Florian M Spiegl
Chief Executive Officer
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 (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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/78995