HUNTER TECHNOLOGY CAPITALIZING ON FINFABRIK ASSETS
VANCOUVER, British Columbia, Feb. 24, 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 provide an update on the integration and development of its FinFabrik core assets.
On December 31, 2020, Hunter acquired 100% of the issued and outstanding shares of FinFabrik Limited of Hong Kong for consideration of USD $11,149,182, paid in cash and common shares of Hunter, for the purpose of utilizing FinFabrik assets to accelerate the development to commercialization of its OilEx and OilExchange platforms. For additional information regarding FinFabrik or the transaction, please see Hunter’s news release dated December 14, 2020, which is available on SEDAR at www.SEDAR.com.
FinFabrik's assets included three robust core technology platforms designed for institutions and industry professionals:
CrossPool - a security token platform designed for financial institutions to digitally structure, issue, transact and manage assets. Built on a proprietary DLT infrastructure, CrossPool combines r3 Corda and Hyperledger Indy. Key features for institutions include client onboarding and digital identity management, asset issuance (token creation), publishing and transaction execution.
XP Invest - an online trading platform tailored for use by token issuers, XP Invest was designed to allow investors to utilize their bitcoin holdings to access global markets including equities (Nasdaq 100) and commodities (oil, coffee). The platform is intended for sophisticated users, offering advanced front-end trading functionalities with extensive risk management and position hedging capabilities on the back-end. Key features include live price feed and quote of synthetic pairs, price charts, order books, liquidity ladders, order capture, pre-trade checks and position keeping.
CryptoFabrik - a cryptocurrency brokerage platform that was tailored for White Label usage by institutions and professionals for cryptocurrency trading. CryptoFabrik was designed to aggregate liquidity across multiple exchanges and ensures best execution of trades by utilizing smart order routing and execution algorithms. Key trading functionality includes comprehensive price charts for technical analysis, balances and buying power management, aggregated order books and deep market liquidity ladders, order pad with predicted algorithmic execution price, smart order routing and execution, order status management and trade history reporting.
In addition to developing and deploying Hunter’s OilEx and OilExchange platforms, the Company is continuing its efforts to refine and market the FinFabrik CrossPool, XP Invest and CryptoFabrik products.
"In addition to the excitement surrounding the development progress for OilEx and OilExchange, we are actively expanding the growth potential in the current market environment for the platforms historically developed by FinFabrik. These platforms are targeted at financial institutions and professional users," said Florian M. Spiegl, Hunter’s Chief Executive Officer.
About Hunter Technology Corp.
Hunter Technology Corp. is a technology provider developing interactive blockchain platforms to enable the facilitation and supply chain tracking of physical oil transactions throughout the trade cycle, with more favorable economics for producers, access to a fair market for all and a reduced carbon footprint as producers transition towards a more environmentally and ethically responsible ecosystem. Through oilex.com Hunter will operate a physical oil marketplace to facilitate the buying and selling of physical oil by independent producers to corporate consumers, traders, and sovereign purchasers. Through oilexchange.com, Hunter will offer real time supply chain management tools for tracking the origin, transhipment and processing of hydrocarbons and the environmental, social and governance (ESG) compliance during their life cycle.
ON BEHALF OF THE BOARD OF DIRECTORS
Florian M Spiegl
Chief Executive Officer
For further information, visit our website at www.huntertechnology.com.
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Cautionary Statement Regarding Forward-Looking Information.
This news release contains certain statements which may constitute forward-looking statements or information (collectively, "forward-looking statements") regarding Hunter’s business development 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, including factors beyond Hunter’s control, and often contain words such as "anticipate," "believe," "plan," "estimate," "expect," and "intend," statements that an action or event "may," "might," "could," "should," "will" or be "on track to" be taken or occur, or other similar expressions. All statements, other than statements of historical fact, included herein are forward-looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements (including execution risk, market risk, industry risk, market reaction, the impact of general economic conditions and competition from other industry participants, as well as stock market volatility). In this news release, forward-looking statements relate to, among other things, Hunter’s business development plans as well as Hunter’s future performance as it develops its business. Although Hunter believes that the expectations in its forward-looking statements are reasonable, they are based on factors, estimates and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statement. Such factors include, but are not limited to: risks relating to delays, development and marketing risks, unforeseen requirements resulting from the COVID-19 pandemic, commodity prices, inability to access, on favorable terms, sufficient capital from internal and external sources, the ability to access, hire and retain employees; regulatory changes and impacts, timing and completion of the Company's online platforms as well as general business, economic, competitive, political and social uncertainties. As such, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future results, levels of activity or achievements. The forward-looking statements contained in this news release are made as of the date of this news release and, except as required by applicable law, Hunter does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement. Trading in the securities of Hunter should be considered highly speculative. There can be no assurance that Hunter will be able to achieve all or any of its proposed objectives. Please review Hunter’s SEDAR filings including its management discussion and analysis available under the Company's profile at www.sedar.com for a more fulsome discussion of risk factors affecting Hunter.
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