Hunter Technology Market Testing Pilot April Launch

VANCOUVER, British Columbia, March 02, 2021 (GLOBE NEWSWIRE) -- via InvestorWire -- Hunter Technology Corp. (TSX-V: HOC; OTCQB: HOILF; WKN: A2QEYH, FSE: RWPM, ISIN: CA4457371090) (“Hunter” or the “Company”) is pleased to announce the scheduled private release of its OilEx platform as a minimum viable product ("MVP") in April 2021.

Ahead of the execution of live pilot transactions for selected hydrocarbon producers and purchasers at the end of Q2 2021, the Company is taking advantage of its robust solution development progress and plans to deliver a platform MVP for market testing in early Q2. This MVP delivery will be targeted to independent producers and purchasers in North America.

The MVP is designed to provide early users a view of the OilEx digital marketplace consolidating the trading supply and demand and enabling transactions with three functional areas:

• A visual representation of market data utilizing interactive maps to support discovery of attractive transaction opportunities. The real-time information visualization functions will be supported by a live deal database with all required details for each individual offer (crude oil type, assay, output capacity, price index, etc.), coupled with search and sorting functions.
  
  
• A secure end-to-end encrypted communication channel between prospective purchasers and sellers supporting transaction negotiations. It combines key transaction data with the flexibility of a conversation.
  
  
• A robust document storage function will transform the current paper trail for transactions into a structured deal document vault. Deal terms and conversations will be aligned side-by-side with executed documents for accurate and timely context.
  

Deployed to be accessible as a live solution in a cloud environment, this product version will be made available to a private group of early users and senior industry advisers. The trial will follow a structured protocol with a series of functionality tests assessing end-to-end performance of realistic physical oil trading scenarios along fully digital processes supported by the OilEx marketplace. Testing will be accompanied by interviews and analyses to determine how effectively the platform interfaces with the user and the intuitive ease of use of features.