VANCOUVER, British Columbia – August 17, 2021 – Hunter Technology Corp. (TSX-V: HOC; OTCQB: HOILF; WKN: A2QEYH, FSE: RWPM, ISIN: CA4457371090) (“Hunter” or the “Company”) is pleased to share an update on its market strategy, product progress and team focus.
Based on the Company’s progress to initiate partnerships with hydrocarbon producers and sovereign entities in West African markets, Hunter is directing additional resources and attention to further develop opportunities in the region. The focus of these efforts will continue to be establishing the OilExchange platform as a standard in physical oil supply chain intelligence solutions. With its tailored data collection and analytics functionalities, the product will enable efficient transparency along complex oil production processes for governments and large producers. The opportunity in smaller producing markets is to fully digitalize the reporting and government monitoring of data points such as production volumes, environmental impact, and export activity. This provides the foundation for advanced solutions in tax and royalty collection and for ultimately moving of all transactions to a unified digital marketplace.
Following this integration opportunity and building on additional market research and feedback, Hunter has also been further building out is OilEx platform which connects commodity producers, buyers, and traders in a trusted marketplace. The product received a global overhaul to becoming a more atomic and extendable platform, adding flexibility to enable tailored transaction workflows and support additional commodity types. As a result, OilEx is well positioned to expand into alternative commodity trading activities and markets.
The initial user experience focus on chat interactions between trade partners is now balanced with a navigation structure that is equally compatible with users who prefer to conduct deeper market exploration and research before making a decision or starting a conversation with a counterparty.
The overhaul sets the foundation for a further extension of platform functions as planned over the next two months. Included are upgraded filtering to improve search accuracy for discovering suitable transaction opportunities, new sections for trade parties to manage their leads and ongoing deals, a dedicated messaging centre for direct deal discussions, and an updated map view that is more integrated with a typical transaction research workflow in commodities markets.
To better support changes in market and platform strategy, the Company is optimizing its product delivery team structure to focus on the most viable and marketable opportunities at hand. After reaching planned milestones of technical platform foundation and back-end development, Hunter is strengthening its market development activities while continuing to tailor product functions to specific use cases. This is reflected in a shift of resources from core engineering to sales and business development functions.
Hunter is releasing its latest investor presentation reflecting updates on market and product developments. The presentation is available on the Company website www.huntertechnology.com.
Hunter Technology Corp. develops interactive software platforms powered by blockchain technology that digitalize and streamline physical oil trading throughout the transaction lifecycle. With its solutions, Hunter delivers more favorable economics and fair market access for all and promotes the transition towards a more environmentally and ethically responsible ecosystem. Its flagship product OilEx 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. Through its data analytics capabilities, 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.