MineHub Technologies Inc. (TSXV: MHUB) (“MineHub” or the “Company”) is pleased to announce that the Company’s shares will commence trading today on Canada’s TSX Venture Exchange under the symbol “MHUB”.
MineHub becomes the first publicly-traded pure play on an end-to-end digital supply chain solution for the mining and metals industry. MineHub is an open, enterprise-grade platform for digital trade, bringing transparency, resilience and responsibility to mining and metals supply chains. The platform connects the many parties involved in physical commodity transactions in a digitally integrated workflow, operating on the basis of shared information secured by a global enterprise blockchain network. This is much more efficient, secure and transparent than the current paper-based and manual processes that are causing major cost and compliance drags in these supply chains.
Arnoud Star Busmann, CEO at MineHub said: “We are very pleased to have completed our over-subscribed $10 million financing and listing on the TSX-V, especially at a time when industries are really starting to understand the transformational power of shared digital infrastructure and transparency in high value supply chains. Transparent governance is a fundamental requirement for adoption of decentralised platforms like MineHub.”
Vince Sorace, Co-Founder and Chairman at MineHub said: “Our TSX-V listing represents an important milestone for MineHub. With a strong balance sheet, industry experts, and ample opportunities for growth, we have a solid foundation to execute our strategy to further build and grow MineHub into the preeminent enterprise platform for commodity supply chains. This industry is ripe for technological advancements and we have proven change is possible with a powerful suite of tools to aid in this digital transformation, from real time data to trade finance and ESG attributes such as carbon emissions tracking.”
Over $1.8 Trillion in metals and minerals move across the planet every year. It is estimated that 5% to 10% of the value of goods (over $150 billion annually) is lost on multi party and paper-based processes¹. Digital transformation is estimated to generate more than $320 billion of value in the mining & metals industry over the next decade, including $77 billion through an integrated ecosystem (linking operations, IT layers and systems) exchanging data throughout the World².
In addition to digitally transforming their businesses, mining companies are under enormous pressure to better their environmental, social governance (ESG) performance.
From a consumer perspective, it’s likely that for instance vehicle manufacturers will be required to comply with specified emissions content limits for new vehicles sold into certain markets. In which case, a solution that provides complete visibility of the ESG attributes for each mineral or metal package is no longer a ‘nice-to-have’, it’s imperative to both the consumer and producer’s access to market. MineHub will be releasing functionality that enables users to attach, certify and verify evidence related to the ESG specifications and emissions footprint of their materials and shipments in upstream and downstream supply chains.
Ultimately, digitizing mineral supply chains ensures compliance with current and incoming regulations, it makes them resilient and adaptable enough to manage other and new challenges and opportunities that arise, both now and in the future. In addition, MineHub’s core technology is easily adaptable and scalable into other commodity markets such as agriculture, chemicals, energy – and ultimately, all global supply chains.
The Company also announces the grant, effective September 2, 2021, of 520,000 incentive stock options to employees and consultants, at an exercise price of $1.00 per share and exercisable for 5 years from the date of grant. In addition, MineHub has entered into an advisory arrangement with Eventus Capital Corp. (“Eventus”). Eventus will provide fiscal advisory services to the Company which includes the issuance of 72,000 share purchase warrants exercisable until September 7, 2022 at a price of $1.00 per share. The issuance of the warrants is subject to approval of the TSX Venture Exchange.