VANCOUVER, April 29, 2020 - United Hunter Oil & Gas Corp. (TSXV: UHO) and Frankfurt (UHO: A118VK) (the “Company”), in accordance with the blanket relief of a of a 45-day extension, provided by Canadian Securities Administrators and Ontario Instrument 51-502: Temporary Exemption from Certain Corporate Finance Requirements, for periodic filings normally required to be made by issuers during the period from March 23, 2020 to June 1, 2020, announces that it will be unable to file its audited annual financial statements for the year ended December 31, 2019 and the related management's discussion and analysis, as required by Part 4 and Part 5 of National Instrument 51-102: Continuous Disclosure Obligations (collectively, the "Annual Filings") by the filing deadline of April 29, 2020. The Company estimates the Annual Filings are expected to be filed by June 13, 2020.
The Company’s management and other insiders are subject to an insider trading black-out policy that reflects the principles in section 9 of National Policy 11-207 Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions. Directors and officers are subject to a black-out period until 2 days after the Annual Filings have been filed.
Since the filing of the interim financial reports on November 26, 2019, the Company announced:
- on December 9, 2019, Texaskew Energy, LLC (“Texaskew”) assigned the rights and obligations under a project agreement with GulfSlope Energy, Inc. (“GulfSlope”) dated November 15, 2019 (“Project Agreement”) to the Company for a period of 6 months, subject to the Company’s option to renew for an additional 6 months (“Assignment”). In order to finance its commitments and provide general working capital, the Company proposed to complete a private placement of units at a price of $0.05 per unit for minimum gross proceeds of $1,000,000 and maximum gross proceeds of $1,200,000.
- on March 19, 2020, the resignation of Dr. Art Halleran as a director and the appointment of Mikael Lundgren and Miles Nagamatsu, Chief Financial Officer of the Company, as directors.
- on April 9, 2020, the Company announced the mutual termination of the Assignment with Texaskew Energy LLC.
About the Issuer
United Hunter Oil & Gas Corp. (www.unitedhunteroil.com) is a Canadian based corporation with management very experienced in the oil and gas industry. United Hunter Oil & Gas Corp. is publicly traded on TSX Venture Exchange (TSX-V: UHO) and Frankfurt Exchange (UHO: A118VK). The Corporation’s public filings may be found at http://www.sedar.com.
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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.
Certain statements contained in this press release may constitute “forward-looking statements” as such term is used in applicable Canadian and US securities laws. These statements relate to analyses and other information that are based upon forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date the statements are made and the Corporation undertakes no obligation to update forward-looking statements and if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable law.