MineHub's Consignment Module provides an accurate, real-time view of consignment stocks, allowing both manufacturers and suppliers to improve inventory management and increase margins
Vancouver, British Columbia--(Newsfile Corp. - October 18, 2023) - MineHub Technologies Inc. (TSXV: MHUB) (OTCQB: MHUBF) ("MineHub" or "the Company"), a leading provider of digital supply chain solutions for the commodity markets, is pleased to announce the launch of a new Consignment Module on its platform to serve the critical consignment market. For manufacturers, consignment programs reduce risk of stockouts without impacting their balance sheet and cash flow. Meanwhile, consignment programs offer suppliers an opportunity to provide improved customer service while increasing margins.
Andrea Aranguren, President & CEO at MineHub commented, "I am pleased to report that we have already onboarded manufacturers and suppliers onto MineHub's new Consignment Module. Releasing the new consignment functionality is a major milestone for MineHub and many of our users who can now more efficiently manage their consignment programs and with that expand their use of the platform. We expect this to unlock new revenues — both from our current users and new users who have been waiting for this capability. This further cements MineHub as the leading platform provider to the metals industry."
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 new functionality of MineHub's Consignment Module removes this pain for manufacturers, suppliers, and financiers.
MineHub's Consignment Module provides a single, shared and accurate view of the consignment stocks, available at all times to all parties. Processors and manufacturers in the metals industry rely on consignment agreements because they need to ensure raw material inventories are available when needed for production. Suppliers will hold and finance that inventory until the consignee is ready to take ownership. MineHub's digital tools support and streamline program management, allowing manufacturers to capture the benefits of reducing inventory risk and optimizing working capital.
MineHub's Consignment Module is available now for existing and new customers. This Consignment Module enables existing MineHub customers to expand their volumes and new customers to incorporate MineHub in the services they provide to their customers.
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.
President & CEO, MineHub Technologies Inc.
Cautionary Note Regarding Forward-Looking Statements
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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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