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United Hunter Oil & Gas Corp. Announces Shareholder Meeting and Transaction Update with Bocana Resources Ltd. in Canadian Business Journal

Calgary, Alberta, November 7, 2022 (GLOBE NEWSWIRE) — United Hunter Oil & Gas Corp.Ltd.” Also “Uho“) (TSXV: UHO) (Frankfurt: 18U1) announced today that at its Annual and Extraordinary General Meeting of Shareholders, UHO’s shareholders voted in favor of the resolutions necessary to implement the merger. To do (“merger“) Under the Business Corporations Act (Alberta), Bocana Resources Ltd. (“bokana”).

The merger resolution was approved by 100% of the votes cast by UHO shareholders. UHO’s stockholders also approved all matters for the Annual General Meeting as set forth in the Notice of Convocation of the Shareholders’ Meeting, and non-interested UHO stockholders also approved the Conversion of Management Fee Debt.

In addition, Bocana’s shareholders also approved the merger at their shareholders’ meeting.

Assuming the merger is completed, as announced by the Corporation in its previous news release, under the terms of the merger:

  1. UHO stockholders will receive one share of the resulting issuer for every 1.6877 shares of UHO stock held immediately prior to the Effective Time.
  2. Bocana shareholders will receive one share of the resulting issuer for each Bocana share held immediately prior to the Effective Time.
  3. Holders of UHO options and warrants will receive one equivalent option or warrant, as applicable, for every 1.6877 UHO options or warrants held immediately prior to the Effective Time.When
  4. Holders of Bocana Warrants will receive one Issuer Warrant for each Bocana Warrant held immediately prior to the Effective Time.

The merger is subject to a number of closing conditions as set forth in the Merger Information Circular available on SEDAR under UHO’s SEDAR profile at www.sedar.com.

debt consolidation

As stated in the circular, UHO shareholders are Mr. Timothy J. Turner and Mr. Miles Nagamatsu (“insider), our Chief Executive Officer and Chief Financial Officer (“Settlement of insider debt”).

The disinterested UHO shareholders have approved the insider debt settlement and, subject to final approval of TSX-V, the Company will issue an aggregate of 5,089,776 shares of UHO common stock to the insiders for a debt settlement totaling $305,386.00.

Insider debt settlements are governed by Multilateral Agreement 61-101 (“MI61-101Due to the exemption contained in Section 5.5(a) of MI 61-101, the fair market value of consideration for a company’s securities issued to insiders shall not exceed 25% of its market capitalization.

Subject to final approval by TSX-V, an additional 41,667 shares of UHO common stock will be issued to independent third parties for a debt settlement totaling $2,500.00.

Turner, CEO of the Corporation, said: We are very pleased with the strategic merger of United Hunter and Bocana Resources and look forward to the growth and value creation of Bocana Resources in the coming year. ”

for more information, please contact:

Timothy Turner
Chief executive officer

United Hunter Oil & Gas Corporation

Phone: +1 (713) 858-3329
Email: [email protected]

Rodney Stevens
representative

Bocana Resources Co., Ltd.

Email: [email protected]

Foresight Information and Disclaimer

Neither TSX Venture Exchange nor its regulated service providers (as those terms are defined in the TSX Venture Exchange Policy) are responsible for the adequacy or accuracy of this release. The exchange has never waived the merits of this transaction and has neither approved nor denied the content of this press release.

Certain information contained in this press release may contain forward-looking statements within the meaning of applicable securities laws. “Continue”, “Plan”, “Propose”, “Will”, “Will”, “Believe”, “Expect”, “Position”, “Expect”, “Improve”, ” The use of any of the words “enhance” and similar expressions are intended to identify forward-looking statements. More specifically, without limitation, this document contains forward-looking statements regarding: the anticipated process and timing of the merger; Expected timing and approval of TSXV on insider debt settlements; Expected benefits from the merger; Expected growth and value creation of the resulting issuer; Completion of the merger, including anticipated timing.

In addition, the forward-looking statements or information are based on a number of assumptions, including the assumption regarding the completion of the merger, used in preparing the forward-looking statements in this press release, which we believe are not correct. may turn out and has been used to prepare such statements and information to provide UHO shareholders with a summary of the expected merger timeline and impact on UHO’s future business. .

Actual results may differ materially from those projected as a result of events or circumstances. It is the result of established risk factors, other known and unknown risks, uncertainties and other factors, many of which are beyond UHO’s control. Such information may prove to be inaccurate and readers are cautioned that the information may not be suitable for other purposes. Although we believe that our expectations reflected in any statement or information regarding our performance are reasonable, you should not place undue reliance on forward-looking statements.

Readers are cautioned that the preceding list is not exhaustive of all factors and assumptions used. As a result, actual results may differ materially from those anticipated in the forward-looking statements. In addition, the forward-looking statements contained herein are made as of the date hereof and Baring may not rely on any forward-looking statements contained herein as a result of new information, future events or otherwise. undertakes no obligation to publicly update or amend the as may be required by applicable securities laws.

This news release does not constitute an offer to sell or a solicitation of an offer to buy securities in the United States. Securities are not and will not be registered under the U.S. or state securities laws, and unless registered under the U.S. securities laws and applicable state securities laws or exemptions, may be sold in the United States or by any person in the United States. It cannot be offered or sold. available from such registrations.

Securities referred to herein have not been registered under the United States Securities Act of 1933 (the “1933 Act”) and may not be offered in the United States or in the absence of such registration or to persons in the United States. or never sold. Registration requirements of the 1933 Act.

Not intended for distribution to US Newswire services or for distribution within the United States. Failure to comply with this limitation may violate US securities laws.


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United Hunter Oil & Gas Corp. Announces Shareholder Meeting and Transaction Update with Bocana Resources Ltd. in Canadian Business Journal

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