via NetworkWire - Hunter Oil Corp. (OTCQX: HOILF; TSX-V: HOC) (the
"
Company”) is pleased to announce that it will pay
a return of capital distribution (the
“
Distribution”) of CAD $1.625 (approximately USD
$1.25) per common share of the Company (“
Share”)
to all registered shareholders of record as at the close of
business on September 11, 2018.
The Distribution represents substantially all of
the proceeds received by the Company from the sale of the Company’s
assets announced August 31, 2018, less outstanding liabilities and
less USD $2,500,000 for working capital.
The Company will pay the Distribution to all
registered shareholders of record as at the close of business on
September 11, 2018.
The Distribution to unregistered shareholders
holding through intermediaries will be made in accordance with the
“due bill” trading procedures of the TSX Venture Exchange (the
“Exchange”). The purpose is to have traded shares
carry the value of the Distribution until it is paid. A due
bill will notionally represent the Distribution of CAD $1.64 per
Share which a holder of a Share is entitled to receive. A due bill
will attach to each Share traded from the first trading day before
the record date for the Distribution until September 18, 2018 (the
“Payment Date”), being the date the Distribution
is paid. Based on the Payment Date, the due bill period for the
Distribution will be September 10, 2018 to September 18, 2018.
Anyone acquiring a Share through an intermediary from
September 10, 2018 up to and including September 18, 2018 will be
entitled to receive the Distribution.
The Shares will commence trading on an
ex-distribution basis (without an attached “due bill” entitlement)
effective from the opening of trading on September 19, 2018, the
next trading day following the Payment Date. The due bill
redemption date will be September 20, 2018 (the second trading day
after the ex-distribution date), when all trades with due bills
attached have settled.
Shareholders do not need to take any action.
Computershare Investor Services Inc., the Company’s transfer agent,
is paying the Distribution to the depositories, CDS & Co. and
CEDE & Co. Unregistered shareholders who hold their
Shares through intermediaries will have their brokerage accounts
automatically updated to reflect the Distribution on or after the
Payment Date. The Company will be paying out the Distribution
directly to its registered shareholders.
Eligible Shareholders are strongly cautioned to
consult with their financial, broker, legal, tax and/or investment
advisors regarding any matters pertaining to the Distribution and
the tax consequences associated therewith.
All figures herein assume a USD/CAD exchange
rate of 1.30.
Following completion of the Distribution the
Company plans to seek to locate, evaluate and where advisable
negotiate to acquire interests in additional oil and gas
properties. There is no guarantee that the Company will be
able to identify suitable oil and gas prospects, or that the
Company will be able to negotiate acceptable terms for any
prospects that it identifies. The Exchange may transfer the
Company to the NEX, a separate board of the Exchange, if the
Company fails to meet the ongoing minimum listing requirements of
the Exchange.
ON BEHALF OF THE BOARD OF
DIRECTORS
Andrew HromykExecutive
Chairman(604) 689-3355
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
Certain information provided in this press
release constitutes forward-looking statements and information
within the meaning of applicable securities laws. Specifically, and
without limitation, this press release contains forward-looking
statements and information relating to the timing of Distribution
and the Company’s future plans. Forward‐looking information
typically contains statements with words such as “anticipate”,
“believe”, “forecast”, expect”, “plan”, “intend”, “estimate”,
“propose”, “project”, or similar words suggesting future outcomes.
The Company cautions readers and prospective investors in the
Company’s securities not to place undue reliance on forward‐looking
information as, by its nature, it is based on current expectations
regarding future events that involve a number of assumptions,
inherent risks and uncertainties, which could cause actual results
to differ materially from those anticipated by the Company. In
respect of the forward-looking statements and information set out
in this new release, the Company has provided such in reliance on
certain assumptions that it believes are reasonable at this time,
including assumptions as to the process and timing for the
Distribution and the number of Shares outstanding at the time of
the Distribution as well as assumptions associated with the due
bills process generally. There are many risk factors
associated with the timing of the Distribution payable to
Shareholders. The Exchange may also transfer the Company to the
NEX. A number of factors could cause actual results to differ
materially from those anticipated by the Company, including but not
limited to additional regulatory or legal approvals required for
the Distribution, the due bills process of the Exchange, the
estimated future expenses of the Company, regulation of the
Company’s business, state of the public markets, and global
economic conditions, among other things. In addition, while
the plans to locate, evaluate and where advisable negotiate to
acquire interests in additional oil and gas properties, there are
no guarantees that the Company will be able to identify suitable
oil and gas prospects, or that the Company will be able to
negotiate acceptable terms for any prospects that it
identifies.
The Company cautions readers that this list of
factors is not exhaustive and that should certain risks or
uncertainties materialize, or should underlying estimates or
assumptions prove incorrect, actual events, performance and results
may vary significantly from those expected. There can be no
assurance that the actual results, performance, events or
activities anticipated by the Company will be realized or, even if
substantially realized, that they will have the expected
consequences to, or effects on, the Company. Readers are urged to
consider these factors carefully in evaluating forward-looking
information and forward-looking statements and are cautioned not to
place undue reliance on any forward-looking information or
forward-looking statements. The forward-looking statements and
forward-looking information are made as of the date hereof, and the
Company disclaims any obligation to update any such factors or to
publicly announce the result of any revisions to any of the
forward-looking statements and forward-looking information
contained herein to reflect future results, events or developments.
You should also carefully consider the matters discussed under
“Risk Factors” in the Company’s management’s discussion and
analysis filed on SEDAR at www.sedar.com.
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