Change of Business Completed
Vancouver, British Columbia--(Newsfile Corp. - November 2, 2020) - Hunter Technology Corp. (TSXV: HOC) (OTCQX: HOILF) (FSE: RWPN) ("Hunter" or the "Company") is pleased to announce that it has completed a forward-split of the Company's common shares (the "Split"), closed its previously announced private placement financing (the "Financing") pursuant to which the Company issued an aggregate of 13,333,333 post-Split common shares and received proceeds of $2,000,000, and changed the Company's name from "Hunter Oil Corp." to "Hunter Technology Corp." (the "Name Change") all as announced in the Company's news releases dated September 14, October 20 and 22, 2020. The Company has not changed its stock symbols.
The Financing, Split and Name Change are part of the previously announced change of business (the "Change of Business"). The Company is now listed on the TSX Venture Exchange as a Tier 2 Technology Issuer, focused on the development of the Company's Oilex trading platform which will facilitate the buying and selling of physical oil by independent producers to corporate consumers, traders and sovereign purchasers, and will be powered by a proprietary blockchain providing a more efficient order book, improved trust and significant cost savings in comparison to legacy transaction channels.
For further details regarding the Change of Business, the Split, the Name Change and the Financing, please see the Company's filing statement dated October 21, 2020 which is available under the Company's profile on SEDAR at www.sedar.com.
Pursuant to the policies of the TSX Venture Exchange (the "Exchange"), the Split is being conducted on a "push-out" basis. All shareholders of record on October 26, 2020 will be entitled to participate in the Split and will receive three post-Split common shares of the Company for every two pre-Split common shares held as of the record date. The Company's common shares will trade on a due bill basis from October 23, 2020 to November 4, 2020, inclusively. The common shares will begin trading on the Exchange on a post-Split basis at the opening of the markets on November 5, 2020, at which time, the Company's common shares will no longer carry an entitlement to additional common shares. The due bill redemption date is November 6, 2020.
Following the settlement of common shares issued in connection with the Split, the common shares will begin trading under the Company's new name, "Hunter Technology Corp.", at the opening of the markets on November 10, 2020.
Upon completion of the Name Change, the Company's new CUSIP number will be 445737109 and its new ISIN will be CA4457371090. Shareholders are not required to take any action with respect to the Split or the Name Change and are not required to exchange their existing share certificates for new certificates bearing the Company's new name. The Company's transfer agent, Computershare Investor Services Inc., will send registered shareholders a Direct Registration System advice (DRS) representing the additional number of common shares to be received as a result of the Split.
Upon completion of the Split and the issuance of common shares in connection with the Financing, there will be approximately 33,224,451 post-Split common shares issued and outstanding. Under applicable securities legislation and the policies of the Exchange, the common shares issued in connection with the Financing are subject to a four-month hold period expiring on March 3, 2021.
ON BEHALF OF THE BOARD OF DIRECTORS
Andrew Hromyk
Chief Executive Officer
(604) 689-3355
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.
THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.
Cautionary Statement Regarding Forward-Looking Information
Certain information provided in this press release constitutes forward-looking statements and forward-looking information (together "forward-looking statements") within the meaning of applicable securities laws. Specifically, and without limitation, this press release contains forward-looking statements relating to the Name Change, the Split, and the timing of such transactions and the Company's future 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, and often contain words such as "anticipate", "believe", "forecast", expect", "plan", "intend", "estimate", "propose", "project", or similar words suggesting future outcomes. The Company cautions readers and prospective investors in the Company's securities not to place undue reliance on forward‐looking statements as, by their nature, such statements are based on current expectations regarding future events that involve a number of assumptions, inherent risks and uncertainties, which could cause actual results to differ materially from those anticipated by the Company. In respect of the forward-looking statements and information set out in this new release, the Company has provided such in reliance on certain assumptions that it believes are reasonable at this time, including assumptions as to the process and timing for the Name Change, the Split and related transactions. Forward-looking statements are subject to a number of known and unknown risks and uncertainties, many of which involve factors or circumstances that are beyond the Company's control. A number of factors could cause actual results to differ materially from those anticipated by the Company, including but not limited to additional regulatory or legal approvals required for the Name Change, the Split and related transactions, estimated future expenses of the Company, regulation of the Company's business, the ability of the Company to raise capital, the ability of the Company to develop and market the Oilex trading platform, the state of the public markets, global economic and business conditions, and diversion of management time on the proposed transactions, among other things. The Company cautions readers that this list of risk factors is not exhaustive and that should certain risks or uncertainties materialize, or should underlying estimates or assumptions prove incorrect, actual events, performance and results may vary significantly from those expected. There can be no assurance that the actual results, performance, events or activities anticipated by the Company will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, the Company. Readers are urged to consider these factors carefully in evaluating forward-looking statements and are cautioned not to place undue reliance on any forward-looking statements. The 3 forward-looking statements are made as of the date hereof, and the Company disclaims any obligation to update any such factors or to publicly announce the result of any revisions to any of the forward-looking statements contained herein to reflect future results, events or developments. Investors should also carefully consider the matters discussed under "Risk Factors" in the Company's management's discussion and analysis filed on SEDAR at www.sedar.com.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/67246
