MineHub secures first bank contract to deploy its Consignment Module to manage non-ferrous metals.
MineHub's Consignment Module digitizes the way in which companies manage and reconcile inventory balances.
Vancouver, British Columbia--(Newsfile Corp. - March 27, 2024) - MineHub Technologies Inc. (TSXV: MHUB) (OTCQB: MHUBD) ("MineHub" or the "Company"), a leading provider of digital supply chain solutions for the commodity markets, is pleased to announce it has signed a services agreement with a large Canadian bank (the "Bank"), to deploy MineHub's Consignment Module to manage non-ferrous metals transactions for the Bank. As the first major bank customer for MineHub, the Bank's adoption of the Consignment Module lays a solid foundation for future growth and new revenue streams with expansion into the finance sector. This milestone underscores the trust and confidence placed in MineHub's innovative solutions, setting the stage for broader industry adoption in new addressable markets.
Andrea Aranguren, President & CEO of MineHub, commented, "We are thrilled to announce this agreement with a large Canadian bank, which marks a significant milestone in our journey towards driving innovation and transforming the way raw materials transactions are managed. Working with one of the largest banks in North America not only further validates our supply chain solutions but also expands our total addressable market. By leveraging our Consignment Module, we are excited to revolutionize the mining and finance industries, unlocking new opportunities for growth, efficiency, and sustainability."
MineHub's Consignment Module empowers the Bank to efficiently manage non-ferrous metals transactions with efficiency and transparency. From trade details and notifications to real-time shipment tracking and CO2 emissions reporting, the platform equips users with the tools needed to make informed decisions and drive operational excellence.
The Consignment Module provides an accurate, real-time view of consignment stocks, allowing both manufacturers and suppliers to improve inventory management. The administration of stocks in consignment is cumbersome, highly manual, and requires frequent interaction between suppliers, customers, and third parties like financiers to verify stock levels and reconcile accounts and balances. The functionality of MineHub's Consignment Module removes this pain for manufacturers, suppliers, and financiers, empowering businesses to optimize efficiency, enhance transparency, and drive value across the supply chain.
Offering the Consignment Module to banks and financiers unlocks new revenue streams for MineHub while delivering unparalleled value to its clients. The deployment of the Consignment Module represents a bold step forward in MineHub's commitment to innovation and sustainable business practices by delivering cutting-edge solutions that drive value for clients and stakeholders alike. As the mining and finance sectors embrace digital transformation, MineHub stands at the forefront of innovation and shaping the future of collaboration in this industry.
In addition, the Company announces the grant of 350,000 stock options to a senior officer of the Company, with each option exercisable at a price of $0.20 cents per share for a period of five years. The stock options will be subject to vesting requirements, as determined by the Board of Directors. The options have been granted in accordance with the terms of the Company's current stock option plan and have a hold period of 4 months and a day from the date of issuance in accordance with the policies of the TSX Venture Exchange.
About MineHub Technologies
MineHub is the digital supply chain platform for the commodity markets, making raw material supply chains more efficient, resilient and sustainable. MineHub provides enterprise-grade digital solutions that connect buyers, sellers, laboratories 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.
Andrea Aranguren
CEO, MineHub Technologies Inc.
For further information regarding MineHub, please email info@minehub.com or visit our website at . Tel: (604) 628-5623
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 . 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.
