Vancouver, British Columbia--(Newsfile Corp. - January 12, 2022) - MineHub Technologies Inc. (TSXV: MHUB) (OTCQB: MHUBF) ("MineHub" or the "Company") is pleased to provide our first annual CEO address to shareholders.
Global supply chains are the foundational infrastructure of the world's economy, and 2021 has seen this foundation being shaken in ways not expected previously. The disruptive impact of events like cyber-attacks, trade disputes, natural disasters and erroneous occurrences like the Evergreen blocking the Suez-canal has and will continue to have both economic and social impact on companies' worldwide.
The COVID pandemic has made global supply chain disruptions front page news - shuttered factories, supply gaps, delays and cost increases in shipping. Rising prices are now causing rampant inflation and forcing national banks to accelerate interest rate rises.
A recent Economist article suggests that on average companies lost 6-10% of revenue due to supply chain disruptions, damage to brand reputation and associated customer confidence. A majority of executives agree that supply chain redundancy and resilience are now more important than speed and efficiency and that AI and blockchain can provide this resilience, improve visibility and protect against ESG compliance risks. This highlights the need for companies like MineHub, and the very urgent solutions we bring to the market.
A Review of 2021
Throughout the year we have matured MineHub's enterprise grade platform and onboarded select customers globally. We have enabled companies active in the selling, buying and financing of high value commodities like mining & metals to go paperless, thereby enabling them to improve visibility and resilience of their supply chains.
We also launched several high value solutions/applications that expand the MineHub core platform, including:
- ESG - enabling users to manage their ESG certifications, track compliance with purchasing or credit policies, and account for carbon emissions in their supply chains
- Trade Finance - providing real-time visibility for lenders on the transactions and assets they are financing, thereby reducing the risk and improving access to finance for traders
- Assay Exchange - digitalising a complex and fraud-sensitive process in metals supply chains, thereby bringing more transparency and reducing working capital held in lengthy settlement times
- Contract Management - enabling users to capture and administer term contracts linking to the underlying transactions, thereby automating and tracking contract management and performance
In addition, the Company has achieved SOC2 Type 2 certification, giving our customers peace of mind that their data is safe and securely stored online, underlining the enterprise-readiness of MineHub.
Customer Engagement
We have signed 12 agreements with companies across all continents, from global mining & metals companies to trade finance houses, lenders, traders and recycling companies, spanning metals & mining, as well as the finance industry. Six of these are large multinational corporations with industry-leading positions.
In 2020, MineHub broke ground with the first ever blockchain-based cross-border iron ore transaction involving the world's largest resources company BHP and largest steelmaker China Baowu. This was followed by an Iron Ore shipment on our platform from Vale to Baowu.
In 2021, MineHub hosted the first blockchain-based cross-border copper concentrates transaction involving BHP and China Minmetals, one of the world's largest metals companies. This transaction included several innovations such as blockchain-based assay exchange and carbon emissions data sharing.
This was followed by the first use of our Trade Finance solution, through which a leading asset manager financed 3 concentrates trades for PY Commodities, a Singapore based trading house. We are continuing to grow the MineHub ecosystem of partners to expand and complement our service offering - some of which include Spire Marine and Contour announced in 2021.
MineHub's solutions focus on solving problems that are common across supply chains, such as disruption, fraud, lack of digitalisation and poor access to capital. While we continue to focus on serving customers across the mining & metals landscape, we are starting to respond to demand from companies across a wider field of industrial supply chains.
The MineHub team has been strengthened with commercial capacity across Japan, Singapore and China, in order to closely co-locate with our customers and provide on the ground support. More product development capability has been moved in-house, ensuring agility in development to customer needs.
Looking ahead into 2022
We now look forward to a bigger and better 2022, during which MineHub will:
● Expand and evolve our engagements with major mining & metals companies and their business networks towards revenue
● Grow adoption of our platform in the SME market, across commodities
● Shift the emphasis of our budget from innovation to roll-out and ecosystem integration
● Expand our trade finance offering with strategic partnerships in both traditional and blockchain-enabled liquidity markets
● Grow our base of partnerships and integrations, specifically in areas that enrich our solutions for supply chain visibility, ESG, trade finance, and ERP integration.
● Develop additional solutions for royalty and streaming, tokenisation, NFTs and connecting to public blockchain networks
● Expand the platform value proposition and market beyond mining & metals
We expect the global economy to take some time to stabilise and for global supply chains to continue to experience disruptions that call for different solutions. MineHub is well positioned to provide this different solution, empowering companies to transform the performance of their supply chains by making them more resilient, profitable, reliable and responsible.
To all our shareholders, thank you for your commitment and support in 2021, and we look forward to an exciting and prosperous 2022.
Arnoud Star Busmann
CEO, MineHub Technologies Inc.
For further information regarding MineHub, please email info@Minehub.com or visit our website at www.minehub.com.
Media Contact
Nominis Advisory, Angus Campbell at angus@nominis.co
Investor Relations
RB Milestone Group, LLC (RBMG) at minehub@rbmilestone.com
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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