VANCOUVER, British Columbia, April 27, 2022 (GLOBE NEWSWIRE) -- Hunter Technology Corp. (TSX-V: HOC; OTCQB: HOILF; WKN: A2QEYH, FSE: RWPM, ISIN: CA4457371090) (“Hunter” or the “Company”) is pleased to announce that it will consolidate all of its common shares on the basis of one (1) post-consolidation common share for every ten (10) pre-Consolidation common shares (the “Consolidation”).
The common shares of the Company will commence trading on a post-Consolidation basis under the existing ticker symbol on May 4, 2022. As of the date of this news release, the Company has 45,334,655 common shares issued and outstanding. Following completion of the Consolidation, the Company is expected to have approximately 4,533,465 common shares issued and outstanding.
No fractional common shares will be issued pursuant to the Consolidation. Any fractional interest in common shares resulting from the Consolidation will be rounded down to the nearest whole common share.
A letter of transmittal will be mailed to registered shareholders by the Company’s transfer agent, Computershare Investor Services Inc., once the Consolidation has taken effect. The letter of transmittal contains instructions on how registered shareholders can exchange their share certificates evidencing their pre-Consolidation shares for new share certificates representing the number of post-Consolidation shares to which they are entitled. Beneficial shareholders holding their shares through a brokerage may be subject to different procedures for obtaining their post-Consolidation shares. If shareholders have any questions in this regard, they are encouraged to contact their respective brokerage or intermediary.
In addition, the board of directors of the Company has determined that the Company will not proceed with the previously announced non-brokered private placement of common shares in the capital of the Company at a price of $0.22 per share for aggregate gross proceeds of up to $700,000.
About Hunter Technology Corp.
Hunter Technology Corp. develops interactive software platforms 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 offers real time supply chain management tools for tracking the origin, logistics, and processing of hydrocarbons and the environmental, social and governance (ESG) compliance during their life cycle.
For inquiries, please contact:
Dr. Konstantinos Ghertsos
Chief Executive Officer
(778) 655-9202
Neither the TSX Venture Exchange Inc. ("Exchange") nor its regulation services provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Forward-Looking Statements
This press release contains forward-looking information and forward-looking statements (collectively, "forward-looking statements") as such terms are defined by applicable securities laws. 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," "plan," "estimate," "expect," and "intend," statements that an action or event "may," "might," "could," "should," or "will" be taken or occur, or other similar expressions. 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 Hunter’s control and Hunter’s actual results could well differ materially from those stated or implied in forward-looking statements due to many various factors. These include, but are not limited to, statements and information regarding: (i) the completion and potential benefits of the Consolidation; (ii) the expected number of common shares issued and outstanding following the Consolidation; (iv) the timing and anticipated effective date of the Consolidation; and (v) TSXV approval. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, the Company cannot guarantee that the events and circumstances reflected in the forward-looking statements will be achieved or occur. The timing of events and circumstances and actual results could differ materially from those projected in the forward-looking statements. Accordingly, one should not place undue reliance on forward-looking statements. All forward-looking statements contained in this press release are made as of today’s date and Hunter undertakes no obligation to update or publicly revise any forward-looking statements, whether as a result of new information, future events or otherwise.
