Vancouver, BC, April 18 2023. MineHub Technologies Inc. (TSXV: MHUB, OTCQB: MHUBF) (“MineHub” or the “Company”) is pleased to announce that the MineHub Assay Exchange application was successfully used in a live transaction with an umpire laboratory as a third party on the platform. The MineHub users involved were able to achieve direct and secure connection with ALS for Umpire Review, after a real time digitized Assay Exchange process.
Arnoud Star Busmann, CEO at MineHub, said: “This shipment builds on our work with many different industry players on making the buying and selling of metal concentrates much more efficient, secure and transparent. The MineHub Assay Exchange application is a true industry collaboration, incorporating input from many different industry participants, including leading and forward-looking laboratories like ALS.”
Ashley Woodhouse, Director of Marketing for Capstone Copper’s Global Concentrate and Metals Sales, said “this first live shipment of concentrates has been a great experience – our team appreciates the ease of use and the automation. There are many cumbersome aspects of selling metal concentrates and the MineHub platform along with their Assay Exchange solution solidifies themselves as leaders in this space.”
Grace Coiley, Executive General Manager (Commodity Inspection) at ALS said “the copper industry is digitising quickly, and we are pleased to be able to support our customers by working with MineHub and contribute to the adoption of digital solutions like the Assay Exchange application.”
The assay exchange was part of a fully digitally managed transaction on the MineHub platform, involving a live shipment of ~ 10,000 MT of United States copper concentrate shipped to Japan. The concentrate assay exchange is a critical process in the global metals concentrate market, providing a mechanism for buyers and sellers to exchange assay data and finalize transactions. The current process is often paper-based, time-consuming, and prone to errors, leading to inefficiencies and delays. Digitising the concentrate assay exchange can bring significant benefits to the market, including improved efficiency, transparency, and security. This shipment is another step in MineHub’s journey in the digitalisation of industrial supply chains, and the copper ecosystem specifically.
In addition, the Company is pleased to announce that it has closed a first tranche of its non-brokered private placement (the “Private Placement”) for total proceeds of up to C$1,018,750. The first tranche of the Private Placement consisted of 4,075,000 units at a price of $0.25 per unit (each a “Unit”). Each Unit is comprised of one common share of the Company and one-half of one transferable common share purchase warrant (each whole being a “Warrant”). Each Warrant entitles the holder to acquire one common share of the Company for a period of 2 years from closing at a price of $0.40 per common share.
In connection with the closing of the first tranche, the Company paid finder’s fees of $31,875 and issued 67,500 finder’s warrants at an exercise price of $0.40 for 2 years. All securities issued under the Private Placement are subject to a hold period of four months and a day from the date of closing. The Private Placement is subject to the Company’s remaining filing requirements with the TSX Venture Exchange. The net proceeds are being used for general working capital purposes.
About Capstone Copper
Capstone Copper Corp. is an Americas-focused copper mining company headquartered in Vancouver, Canada. Capstone Copper Corp. owns and operates the Pinto Valley copper mine located in Arizona, USA, the Cozamin copper-silver mine located in Zacatecas, Mexico, the Mantos Blancos copper-silver mine located in the Antofagasta region, Chile, and 70% of the Mantoverde copper-gold mine, located in the Atacama region, Chile. In addition, Capstone Copper Corp. own the fully permitted Santo Domingo copper-gold project, located approximately 30 kilometres northeast of Mantoverde in the Atacama region, Chile, as well as a portfolio of exploration properties in the Americas.
About ALS Inspection
ALS is the global benchmark for quality and integrity in the scientific testing and analysis sector. We have built our reputation on client service, innovation, quality and technical excellence. With corporate headquarters in Brisbane, Australia, and Global Operations in Houston, Texas, USA, we are an ASX100 company with a multi-billion-dollar market capitalisation. ALS operates one of the world’s largest analytical and testing services businesses with more than 350 sites in over 65 countries across the globe. We are focused on driving growth by continuing to successfully operate our existing businesses through innovation and the pursuit of new opportunities.
About MineHub Technologies
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.
Arnoud Star Busmann
CEO, MineHub Technologies Inc.