Hunter Technology : First Quarter 2021 Fiscal Results

First Quarter 2021 Fiscal Results

May 28, 2021

In Q1, the Company ramped up development of its OilEx and OilExchange platforms and completed the integration of its recently acquired (Q4 2020) FinFabrik subsidiary. Significant operational highlights included:

‍Q1 2021 Highlights:

• Integration of FinFabrik and establishment of Hong Kong office with focus on operations and product R&D
• Reorientation and build-out of in-house software development and product management teams
• Consolidation of FinFabrik technology stack for application in energy trading and data analytics
• Development of Hunter technology platform with focus on OilEx marketplace and launch of pilot
• Start of business development, market engagement and partnership activities

Hunter CEO Florian M. Spiegl commented: 'In the first quarter of 2021 Hunter was focused on completing the transition of the business from oil exploration and production into building and operating digital marketplaces and data analytics solutions for the energy sector. We followed our roadmap with establishing an expert team, delivering an initial version of OilEx and connecting to the market, including forming key partnerships. This formed a solid foundation to further engage with potential clients and develop market relationships.'

Select Financial Highlights*:

* Complete unaudited interim condensed financial statements as available on the Company's website and www.sedar.com

** Adjusted loss for the period represents loss before taxes $1,103,195 adjusted for non-cash expense charges of $476,576

Operational Update

With the acquisition of FinFabrik completed, the Company has shifted its focus on the development of OilEx, a digital marketplace for connecting independent producers with international buyers of physical oil, with a private test version of the platform brought live in Q1. It will continue its path towards deployment of its platform in Q3 and public go-live in Q4.

About Hunter Technology Corp.

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.

On behalf of the board of directors

Neither TSX Venture Exchange nor its regulation services provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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.