- MineHub announces transformative agreement with a global mining company, projected to contribute approximately CAD$850,000 to its revenue in the next 12 months.
- This agreement highlights the MineHub platform's potential to revolutionize mining operations and increasing transparency in the supply chain process.
Vancouver, British Columbia--(Newsfile Corp. - August 2, 2023) - MineHub Technologies Inc. (TSXV: MHUB) (OTCQB: MHUBF) ("MineHub" or the "Company") is pleased to announce it has entered into an agreement with a prominent global mining company to digitize its mining and supply chain operations, including the onboarding of numerous ecosystem partners onto the platform. This agreement is expected to contribute approximately CAD$850,000 to MineHub's revenue over the next 12 months.
Under the terms of the agreement, MineHub will provide an enterprise license to its platform along with enterprise applications for use in the global mining company's operations. In addition, MineHub will further be enhancing its platform with high value functionality and integration APIs, which will increase operational efficiencies and reduce the potential for human error.
Andrea Aranguren, President & CEO at MineHub, said, "This agreement with a global mining company marks a significant milestone in MineHub's journey. Together, we aim to spearhead a paradigm shift in mining operations, empowering our industry with unparalleled security, efficiency, and transparency of supply chains. This momentous partnership reinforces MineHub's position as a pioneering force in the mining technology sector and underscores the immense value the mining industry sees in the transformative opportunities offered by the MineHub platform."
Under the terms of the Statement of Work (SOW), the two companies have already embarked on the first stages of the project, including API development and deployment, which is on track to be completed by the end of Q4 2023. Following this, MineHub will deliver further enhancements and validation testing in Q1 2024, with onboarding of the global mining company's ecosystem partners anticipated in the same quarter. An initial list of ecosystem partners has already been identified. This network of like-minded partners will foster a thriving ecosystem of innovative supply-chain solutions, amplifying the impact and reach of MineHub's transformative capabilities.
Andrea Aranguren further adds, "We look forward to delivering on our commitments to this global mining company and its ecosystem of trading partners. This contract is additional validation of MineHub's industry leading role and it immensely assists in managing our operating cash flows. Together with the previously announced capital contribution from Sumitomo Corporation, this further increases the acceleration in non-dilutive cash generation by the Company."
The counterparty and terms of the agreement remain confidential.
About MineHub Technologies
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.
President & 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/175761