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Vancouver, British Columbia--(Newsfile Corp. - May 24, 2022) - MineHub Technologies Inc. (TSXV: MHUB) (OTCQB: MHUBF) ("MineHub" or the "Company") and TradeGo Pte Ltd ("TradeGo") are pleased to announce they have recently entered into a strategic cooperation agreement. The collaboration will focus on the application of blockchain technology in international bulk commodity chains, including cross-platform integration, business model exploration and alignment and developing new use cases for cross border trade with China.
TradeGo is China's leading blockchain-based commodity trading platform, and is owned by corporations like Petrochina, Sinochem, Macquarie, Bank of China, COSCO and Saudi Aramco. The platform provides efficient, safe and reliable solutions for digital trade finance, like electronic bills of lading and warehouse receipts for clients in commodity supply chains across the sectors of energy, chemistry and metals within China.
Arnoud Star Busmann, CEO at MineHub Technologies said, "I am very pleased with this collaboration with TradeGo, after being connected to the team since early 2020. We have a shared mission with strong synergy opportunities for our users in providing digital highways for trade in and out of China. Blockchain is enabling technology for cross-border supply chain digitalisation and TradeGo is one of the most advanced Chinese companies in that field."
The TradeGo and MineHub platforms combined, as the leading blockchain trade service platforms in their respective regions, will provide users of both parties with richer usage scenarios and a smoother user experience. By connecting the platforms, MineHub users get access to digital trade solutions from Chinese logistics and trade finance service providers connected to TradeGo. Vice versa, TradeGo service providers can connect their digital trade services to cross-border trade flows orchestrated on MineHub. Through this cooperation, each platform can provide more value through digital transformation to a larger ecosystem.
Jason Yu, CEO of TradeGo said, "I believe that our cooperation will enable us to better serve our clients in Asia for commodity trade, especially for iron ore trade. For privacy protection, we provide secure data storage resolution to our clients, using similar underlying technology for both platforms."
In the international trade of bulk commodities, the supply chain is long and there are many participants. This inter-regional platform cooperation will help the development of the digital industry ecosystem, expand the offering of both parties, and more effectively serve the intercompany collaboration of enterprise users in the cross-border trade with China.
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.
TradeGo is jointly set up by Sinochem Energy, PetroChina International, Macquarie CGM, COSCO Shipping Energy, Bank of China, Saudi Aramco Energy Ventures, China Construction Bank, China Merchants Energy Shipping, Mitsui and Wanxiang Blockchain. This commodity blockchain alliance builds a digital service platform for international trade in commodities based on blockchain technology to help customers in energy, chemical, metal and other commodity industries expand and innovate their businesses, and gradually recreate an industrial value ecosystem.
Arnoud Star Busmann
CEO, MineHub Technologies Inc.
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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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