Vancouver, British Columbia--(Newsfile Corp. - April 12, 2023) - MineHub Technologies Inc. (TSXV: MHUB) (OTCQB: MHUBF) ("MineHub" or the "Company") is pleased to be hosting a panel discussion during the World Copper Conference and Cesco Week in Santiago, Chile, between April 17th and April 19th, 2023. In this panel discussion, executives from Codelco, Southwire and Sumitomo Corporation will be engaging in a conversation to share the drivers behind their digitization efforts.
CESCO Week and the World Copper Conference provide some of the most important commercial and networking opportunities in the mining industry, attracting in excess of 2000 delegates. Both events are renowned for the calibre of delegates and attract CEO participants from the world's most important miners and smelters.
Arnoud Star Busmann, CEO at MineHub Technologies said: "We are excited to be at the World Copper Conference to discuss and showcase with delegates the opportunities MineHub can bring to digitizing the mining industry. We are also pleased to be able to host a panel on the opening day, with industry leaders Codelco, Southwire and Sumitomo Corporation, who will share their views on the challenges and opportunities in the digital transformation of metals and mining supply chains."
At a time when ESG and trade regulation, supply chain disruption and labor shortages are becoming the norm, the need for transparency and digitization is becoming increasingly urgent. Modern digital tools can ease the significant operational burden of administering commodity shipments, provide mine-to-market visibility and traceability for buyers and sellers, as well as meaningfully reduce instances of fraud in the supply chain.
In addition, the Company announces that it has extended the maturity date of convertible debt in the principal amount of $771,000 that is due on July 31, 2023 (the "Convertible Debt"). The due date of the Convertible Debt will be extended to July 31, 2024. Other than the extension of the maturity date, the terms of the Convertible Debt instruments remain the same. $644,500 of the Convertible Debt bears simple interest of 5% and the lenders therein have an option to convert all or a portion of the principal amount into Units (defined below) at a deemed price of $0.25 per Unit. Each unit (a "Unit") consists of one Common Share and one-half share purchase warrant (each whole, a "Warrant"), with each Warrant entitling the holder thereof to purchase one Common Share of the Company an exercise price of $0.50 per Common Share. Pursuant to the extension of the Convertible Debt, the underlying Warrants issuable on conversion of the Convertible Debt to Units will also have the expiry date of such Warrants extended by one year, from July 31, 2024 to July 31, 2025. A further principal amount of $126,500 of the Convertible Debt had the same interest rate and maturity date (and is likewise being extended to July 31, 2024) but is convertible into common shares at a deemed price of $0.25 per common share. The extension of the Convertible Debt is subject to TSX Venture Exchange approval.
About MineHub Technologies
MineHub provides enterprise-grade digital solutions that connect buyers, sellers and financiers within physical commodities supply chains in a digitally integrated workflow powered by data that is useable, shareable, verifiable and unforgeable. Users of MineHub solutions are in full control of their supply chains, enabling them to optimize their use of resources, respond better and faster to disruptions, and provide a better customer service. Global enterprises already use MineHub solutions as part of their logistics, compliance, trade management and financing operations.
Arnoud Star Busmann
CEO, MineHub Technologies Inc.
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 management discussion and analysis, 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. Although the Company has attempted to identify risk factors that could cause actual actions, events or results to differ materially from those disclosed in the forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Also, many of the factors are beyond the control of the Company. Accordingly, readers should not place undue reliance on forward-looking statements or information. The forward-looking information is made as of the date included herein, and the Company assumes no obligation to publicly update or revise such forward-looking information. 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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