Total
0
Shares
Lite Access Technologies - The Market Herald Canada
Lite Access Technologies
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Hunter Technology concluded a number of transactions in Q4
  • Changes included a change of business name and a C$2M private placement
  • Development work began on OilEx, the company's digital marketplace
  • Hunter acquired 100% of the outstanding stock of FinFabrik Limited
  • Hunter Technology develops interactive software platforms powered by blockchain technology to streamline physical oil trading
  • Hunter Technology Corp. (HOC) opened trading at $0.96 per share

Hunter Technology Corporation (HOC) is pleased to announce its fiscal year-end results for the year ended December 31, 2020.

In Q4, the company concluded a series of reorganizations and transactions that resulted in a significant change in operations, increased balance sheet, and improved capitalization.

Significant transactions completed during the year include:

  • Changed of business and name change to Hunter Technology Corp.
  • C$2,000,000 in a private placement financing
  • Began development of the OilEx and OilExchange platforms
  • Acquired 100% of the outstanding stock of FinFabrik Limited in exchange for:
    • 12,110,203 common shares at a deemed price $.90 USD per share and
    • $250,000 USD cash; and
  • Increased total assets of the Company to US$11.8 million

Hunter CEO Florian M. Spiegl commented,

"2020 was a year of change and reorientation for Hunter. The company successfully completed several critical transactions as it pivoted from oil exploration and production into the technology sector to facilitate sustainable global production and trading of energy resources.

An improved balance sheet and financial metrics provide a solid base for development of our technology platforms and market entry in 2021."

Select Financial Highlights*:

 For the years ended December 31,20202019Change
 (USD) ($)($) 
 Total Assets 11,775,3501,274,919824%
 Total Equity 10,353,6681,156,246795%
 Cash on hand 1,665,9361,111,71750%
 Loss for the year (1,093,439)(613,836)78%
     Per Share Basic & Diluted(0.05)(0.04)25%

Operational Update

With the acquisition of FinFabrik completed, the company has shifted its focus on the development of OilEx, a digital marketplace for connecting independent producers with international buyers of physical oil, with a private test version of the platform brought live in Q1. It will continue its path towards planned pilot transactions in Q3 and the public go-live of the platform in Q4.

Hunter Technology develops interactive software platforms powered by blockchain technology that digitalize and streamline physical oil trading.

Hunter Technology Corp. (HOC) opened trading at $0.96 per share.

More From The Market Herald
OverActive Media’s (TSXV:OAM) Toronto Ultra wins Property of the Year

" OverActive Media’s (TSXV:OAM) Toronto Ultra wins Property of the Year

OverActive’s (OAM) esports team, Toronto Ultra, has won the 2021 Sponsorship Marketing Award for Property of the Year.
Wilton Resources (TSXV:WIL) announces private placement

" Questerre Energy (TSX:QEC) files application for carbon storage reservoir test

Questerre Energy (QEC) has filed an application to test a reservoir for carbon storage potential.
East West Petroleum (TSXV:EW) provides operational update

" Freehold Royalties (TSX:FRU) announces closing of U.S. royalty assets and credit facility

Freehold Royalties (FRU) has closed its acquisition of high-quality U.S. royalty asset the Eagle Ford oil basin in Texas.
Fandoms Sports Media puts Esports app to the test

" Intema Solutions (TSXV:ITM) closes acquisition of esports team

Intema Solutions (ITM) has completed its acquisition of the owner of the Team BH esports team, Team Bloodhounds Inc.