Hunter (TSXV: HOC) (OTCQB: HOILF) (FRA: RWPN) on Monday announced its development of a smart trading platform for physical oil transactions under the brand name “Oilex” (trademark registration pending). According to the update, the blockchain-powered platform will facilitate efficient and cost-effective buying and selling of physical oil by independent producers to corporate consumers, traders and sovereign purchasers. In addition, the company will be undertaking a name change, a forward split on the basis of three new common shares of Hunter (the “Post-Split Common Shares”) for each two currently outstanding common shares (the “Split”) and a financing. These actions will result in Hunter completing a “change of business” to become a Tier 2 Technology Issuer under the policies of the TSX Venture Exchange (the “TSXV”). “I am pleased that Hunter is able to leverage its assets and the experience of its team to move the Oilex trading platform towards commercialization within the volatile pricing environment of hydrocarbons,” said Hunter CEO Andrew Hromyk in the news release. “We are very excited by the opportunities in front of us and anticipate filling an identifiable market need for consistent pricing access to all ranges of producers.”
To view the full press release, visit http://nnw.fm/8hbvG
About Hunter Oil Corp.
Hunter is focused on the development of its Oilex trading platform to facilitate the buying and selling of physical oil by independent producers to corporate consumers, traders and sovereign purchasers. The platform will be powered by a proprietary blockchain, providing a more efficient order book, improved trust and significant cost savings in comparison to legacy transaction channels. For further information, visit the company’s website at www.HunterOil.com.
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