Vancouver, B.C., February 22, 2022. MineHub Technologies Inc. (TSXV: MHUB, OTCQB: MHUBF) (“MineHub” or the “Company”) is pleased to announce that Roy Hill and their customer Xiamen Construction & Development recently completed a fully digital transaction on the MineHub platform involving the shipment of 200,000MT of iron ore (with a value of approx. USD $20 million based on market prices at the time of fixture) from Port Hedland, West Australia to the ports of Jingtang and Huanghua in China.
Arnoud Star Busmann, CEO at MineHub said: “Roy Hill is one of the main Australian iron ore producers and Xiamen C&D is one of the largest Chinese iron ore trading groups. Both customers have been incredibly supportive with feedback and their speed of engagement. As an integral part of the Company’s strategy, we continue to capture the interest of significant customers who dominate some of the most valuable supply chains on the planet, and who will continue to collaborate with us in identifying new opportunities in line with our “design with industry for industry” approach”.
This transaction is a further expansion of the use of the MineHub platform in the global iron ore market, as it follows on from ground breaking transactions previously published between BHP and China Baowu.
About Roy Hill Holdings Pty. Ltd.
Roy Hill is a world-class iron ore operation and one of the largest single ore mines in Australia. Situated 344km south-east of Port Hedland in Western Australia’s mineral rich Pilbara region, Roy Hill is an independent iron ore operation with local majority ownership and is Chaired by Mrs Gina Rinehart. With integrated mine, rail and port facilities producing 60Mtpa – Roy Hill is one of the world’s major resource-based operations and delivers enormous benefits to the Australian economy and broader community.
About Xiamen C&D
C&D Inc. is a modern service-type enterprise with supply chain operations and real-estate development as its dual main businesses. Its businesses starting in 1980, the company was established exclusively by Xiamen C&D Group Co., Ltd. and listed at Shanghai Stock Exchange in June 1998. In 2020 it realized operating revenue of 432.95 billion CNY and after tax net profit of 8.18 billion CNY. As of the end of 2020, its total asset was 387.16 billion CNY and net asset was 86.06 billion CNY. C&D Inc. adheres to value-added service concept as the guidance of business model innovation, and is committed to the development of innovation-driven strategy, strives to become the world’s leading supply chain operator in the field of supply chain operations.
About MineHub Technologies
MineHub is an open, enterprise-grade platform for digital trade, bringing efficiency, transparency and responsibility to supply chains. MineHub connects the many parties involved in a physical commodity transaction in a digitally integrated workflow, operating on the basis of shared authentic and validated information secured by a global enterprise blockchain network. Users of MineHub are in full control of their supply chains, enabling them to optimize their use of resources, respond better and faster to customer needs and have confidence in the resilience, security and compliance of their operations.
Arnoud Star Busmann
CEO, MineHub Technologies Inc.
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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 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.