Hunter Technology Announces Financial Update for Fiscal Year End 2020

VANCOUVER, British Columbia, April 28, 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 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:

2020 Highlights:

• the successful change of business and name change to Hunter Technology Corp.;
• $2,000,000 CAD in a private placement financing;
• commencing development of the Company’s OilEx and OilExchange platforms;
• acquiring 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
• increasing total assets of the Company to $11.8 million USD
  

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,				2020		2019		Change
(USD)				($)		($)
Total Assets				11,775,350		1,274,919		824	%
Total Equity				10,353,668		1,156,246		795	%
Cash on hand				1,665,936		1,111,717		50	%
Loss for the year				(1,093,439	)	(613,836	)	78	%
Per Share Basic & Diluted				(0.05	)	(0.04	)	25	%

* Complete audited financial statements as available on the Company’s website and www.sedar.com