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Vancouver, British Columbia--(Newsfile Corp. - June 7, 2022) - MineHub Technologies Inc. (TSXV : MHUB) (OTCQB: MHUBF) ("MineHub" or the "Company") is pleased to provide this corporate update to shareholders.
Supply chain resilience is more important than ever in the current turbulent and volatile macro-economic environment. Technology plays a pivotal role in achieving this resilience to protect brand reputation and revenues, which is why corporations we work with recognize the importance of the MineHub platform. In addition to improving operational efficiency and reducing operational risks through digitalisation, MineHub enables them to:
Gain improved visibility into their supply chains to pro-actively mitigate against disruptions
Move from physically delivered documents to digital transactions to protect cashflows
Enhance their customer experience with rich, high-quality and real-time data to protect their reputation or grow revenue
Verify compliance with fast emerging trade regulations to avoid costly fines and brand damage
Arnoud Star Busmann, CEO, said: "we have the privilege to be working and engaging with a growing group of international corporations across all continents - the feedback we are receiving about MineHub is very positive and it validates our approach and the value we bring to our users. The completeness of functionality and the ease of use are all testament to the importance of industry collaboration and support when building a platform like ours. We continue to enhance our platform, improve our organisation and mature the commercial relationships with our existing partners and customers. At the same time, we are accelerating growth in the number of new large corporations that we are engaging with. We have never been in a better position than today and are looking forward to the next phase in our growth, expecting the transition into revenue in 2022."
MineHub has made significant progress in recent months and we are pleased to recap on the highlights and share what is ahead.
As the platform continues to get more market exposure, we get valuable feedback that helps us innovate and identify new value opportunities. Specific platforms improvements resulting from that include:
Major upgrade of our Assay Exchange application, based on feedback from operations teams in copper industry giants like BHP, Sumitomo, China Minmetals and Zijin
Release of our container-logistics solution, expanding our potential use to the full seaborne market
Enhanced ESG functionality, enabling automation of ESG logistics credentials at shipment level as well as brands/products
Increased automation around onboarding has significantly reduced the setup time for new customers
In addition, the product teams have been able to accelerate the time-to-market for releasing improvements by an order of magnitude, and increased automation of the set-up of new users has greatly reduced the time and effort to onboard new customers.
MineHub is preparing itself for the next phase in its development and readiness for scaling. Several organisational developments that are relevant in that context include:
Moving critical technology and engineering capacity more in-house, and reducing costs and dependencies on external IT providers
Increasing commercial and customer success capacity
Strengthening of the team in China
Expanding our footprint in Brazil and Chile
Appointment of Oswald Kuyler, former managing director of the ICC to the advisory board
All these activities reflect the progress we are making and the confidence in our execution performance by the team, shareholders and customers.
Customers and Partners
We continue to mature the commercial relationships with our existing customers and partners, as well as expand into new ones as we accelerate our market traction in key ecosystems like iron ore and copper. Highlights over the last four months include:
Our partnership with Sumitomo Corporation, one of the leading Japanese global trading houses
A first copper concentrate transaction involving three of the largest corporations in the copper industry - BHP, China Minmetals and Zijin Mining - including key MineHub innovations like assay exchange and carbon emissions tracking
A first shipment of iron ore between Roy Hill and Xiamen C&D
Next to these published events, we have been initiating and running several other projects with key industry players, including a first live shipment with refined copper using our new container logistics capability. MineHub's strategy of promoting and enabling ecosystem connectivity is also reflected in its prioritisation of strategic partnerships, like the recent announcements involving:
Kimura capital - a leading non-bank lender with whom we are developing a trade finance syndication platform
Coriolis Technologies - a leading data service providing independent ESG scoring of market participants
Tradewaltz - a company backed by the Japanese government and leading Japanese corporations focused on digitalising trade processes in Japan
TradeGo - China's leading blockchain-based commodity trading platform, and is owned by corporations like Petrochina, Sinochem, Macquarie, Bank of China, COSCO and Saudi Aramco
We are executing and delivering on an ambitious partnership and integration roadmap and we will continue to provide visibility of our progress through public announcements.
Looking ahead in 2022
Global events and continued disruptions impacting supply chains are the key contributors to the current inflationary economic conditions, and demonstrate the importance and urgency of the MineHub platform as a solution for mitigating against the impact of these conditions. We bring to market one of the most proven innovative solutions for supply chains and we expect this to result in revenue growth in the near future. In addition, we will continue to execute on our strategy and roadmap, including:
Growing our value and use in the copper industry, particularly in the industrial supply chains connecting Chile to China and Japan
Expanding our footprint in iron ore flows to China
Further roll-out of ESG functionality, including scope 3 emissions accounting and carbon offsetting
Developing pricing and invoicing capability connecting to existing user flows, ex: Assay Exchange
Launching our finance syndication platform
Innovating in tokenisation, digital assets and connecting DeFi liquidity as working capital for physical commodity supply chains
Expecting transition to revenue and readiness for scaling
As a company, we have never been more optimistic and confident than we are now, and we thank our shareholders, partners, customers and our team for getting us to this point.
About MineHub Technologies
MineHub is an open, enterprise-grade platform for digital trade, bringing efficiency, security and responsibility to mining and metals supply chains. MineHub connects the many parties involved in a physical commodity transaction in a digitally integrated workflow, operating on the basis of shared information secured by a global enterprise blockchain network. Users of MineHub are in full control of their supply chains, enabling them to optimize their use of resources, respond better and faster to customer needs and have confidence in the resilience, security and compliance of their operations.
Arnoud Star Busmann
CEO, MineHub Technologies Inc.
RB Milestone Group, LLC (RBMG) at firstname.lastname@example.org
Cautionary Note Regarding Forward-Looking Statements
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains statements that are considered "forward-looking information" within the meaning of applicable Canadian securities legislation ("forward-looking statements") with respect to MineHub including, but not limited to, statements with respect to MineHub's future operational plans, the timing of such plans and anticipated customers. Forward-looking statements are statements that are not historical facts are generally, but not always, identiﬁed by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although MineHub believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward-looking statements. Such material risks and uncertainties include, but are not limited to, the Company's ability to raise suﬃcient capital to fund its operations, applications and for general working capital purposes, changes in economic conditions or ﬁnancial markets, changes in laws or regulations that could have an impact on the Company's operations, dependence on its key management personnel and market competition. Other risk factors are identified in the Company's prospectus dated August 18, 2021, available on the Company's SEDAR profile at www.sedar.com. There may be other risk factors not presently known that management believes are not material that could also cause actual results or future events to differ materially from those expressed in such forward-looking statements. The forward-looking information is made as of the date included herein. Forward-looking statements are based on the reasonable beliefs, estimates and opinions of MineHub's management on the date the statements are made. However, except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors should change.
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