Hunter Technology Provides Bi-Weekly Default Status Report

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VANCOUVER, British Columbia, May 31, 2022 (GLOBE NEWSWIRE) — Hunter Technology Corp. (TSX- V: HOC; OTCQB: HOILF; WKN: A2QEYH, FSE: RWPM, ISIN: CA4457371090) (“Hunter” or the “Company”) is providing a bi-weekly default status update in accordance with its filing obligations under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203“).

As previously announced in the Company’s press releases dated May 4, 2022 and May 17, 2022, Hunter is subject to a management cease trade order (“MCTO“) issued by the British Columbia Securities Commission dated May 3, 2022. The MCTO prohibits the directors and executive officers of the Company from trading in or acquiring securities of the Company until two full business days after the Company files its audited financial statements for the year ended December 31, 2021 and the related management’s discussion and analysis and certifications (collectively, the “Annual Filings”). The MCTO does not affect the ability of investors who are not insiders to trade in the securities of the Company.

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The Company also announces that the filing of its unaudited interim financial statements, management’s discussion and analysis and related certifications for the three-months ended March 31, 2022 (the “Interim Filings”, and together with the Annual Filings, the “Required Documents“), will be delayed beyond the filing deadline of May 30, 2022 as a result of the delay in completing the Annual Filings. The Company expects the Interim Filings to be filed concurrently with the Annual Filings. The MCTO will remain in effect until two (2) full business days following the receipt by the British Columbia Securities Commission of all filings the Company is required to make under Canadian securities law (including the Required Documents).

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The Company advises that aside from the British Columbia Securities Commission granting the MCTO: (i) there have been no material changes to the information contained in the Company’s news releases dated May 4, 2022 and May 17, 2022; (ii) it intends to continue to comply with the alternative information guidelines of NP 12-203; (iii) except as previously disclosed, there are no subsequent specified defaults (actual or anticipated) within the meaning of NP 12-203; and (iv) there is no other material information concerning the affairs of the Company that has not been generally disclosed.

About Hunter Technology Corp.

Hunter Technology Corp. is a blockchain marketplace company that has developed proprietary technologies that digitalise and streamline transaction lifecycles for underserved and inefficient markets. With its Hunter Marketplace Solutions (“HMS”) product, the Company supports the creation of customised marketplaces and enhanced data analytics capabilities that deliver more favourable economics and fair market access for all, as well as supporting numerous ESG opportunities throughout transactional ecosystems. The first such HMS-powered solution is OilEx, which 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.

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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 news release contains forward-looking statements relating to the expected timing of the filing of the required filings. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations are risks detailed from time to time in the filings made by the Company with securities regulations. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will only update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.