Vancouver, B.C., April 12, 2022. MineHub Technologies Inc. (TSXV: MHUB, OTCQB: MHUBF) (“MineHub” or the “Company”) is pleased to announce its collaboration with TradeWaltz Inc. after a successful proof of concept involving a copper ore import from Sumitomo Corporation. The companies intend to integrate their blockchain-based platforms to enable a seamless connection of mining & metals supply chains with digital trade services in Japan.
TradeWaltz Inc. is a company owned by a consortium of ten leading Japanese corporations including Mitsubishi Corporation, Toyota Tsusho Corporation, Mitsui-Soko Holdings Co., Ltd., Nissin Corporation and MUFG Bank, which has developed, with support from the Japanese government, a cross-industry trade collaboration platform that fully digitizes trade processes in Japan. MineHub is a platform for digitizing global supply chains, with a focus on mining & metals, and which has been co-created with leading corporations in the mining & metals industry, including Sumitomo Corporation.
Like MineHub, TradeWaltz is a blockchain-based platform and has already demonstrated a 45-60% increase in operational efficiency. As the first step of the collaboration, a proof of concept was conducted on March 23, 2022, using a Sumitomo Corporation copper ore import transaction. The results suggest up to a 60% improvement in business processing efficiency. The companies also presented the results at the Digital Trade Conference hosted by the International Chamber of Commerce UK on April 7, 2022.
Arnoud Star Busmann, CEO at MineHub Technologies, said “a key concern in the digital trade community is the emergence of digital islands, which limit the exponential benefits potential of connectivity. Our collaboration with TradeWaltz demonstrates how interoperability between leading platforms removes those constraints to unlock that exponential value creation for mining & metals supply chains. We are very excited to be working with these Japanese innovators TradeWaltz and Sumitomo Corporation on taking the industry further on its digitalisation journey.”
About TradeWaltz Inc.
TradeWaltz Inc. is a DX startup that transforms paper-based, analog trade in Japan and Asia into fully electronic, blockchain-based trade. An all-Japan trade consortium consisting of NTT Data and 18 major trade practitioners developed the service after about 4 years of system development, technology demonstration, legal reform proposals, and business conception. The company is invested and operated by 10 major companies including NTT DATA Corporation, UTokyo Innovation Platform Co., Ltd., Mitsubishi Corporation, Toyota Tsusho Corporation, TW Link Corporation (Joint Venture of Kanematsu Corporation), Tokio Marine & Nichido Fire Insurance Co., Ltd., Mitsui-Soko Holdings Co., Ltd., Nissin Corporation,
MUFG Bank, Ltd. and Sompo Japan Insurance Inc.
About Sumitomo Corporation
Sumitomo Corporation is a leading Fortune 500 global trading and business investment company with 131 locations (Japan: 20, Overseas: 111) in 66 countries and regions. The entire SC Group consists of more than 900 companies. SC conducts commodity transactions in all industries utilizing worldwide networks, provides customers with financing, serves as an organizer and a coordinator for various projects, and invests in companies to promote greater growth potential. SC’s core business areas include six business units: Metal Products; Transportation & Construction Systems; Infrastructure; Media & Digital; Living Related & Real Estate; and Mineral Resources, Energy, Chemical & Electronics, and one initiative: Energy Innovation.
Our corporate message, “Enriching lives and the world”, was created to encapsulate our vision for sustainability in the next 100 years. Our business, as well as our relationship with our stakeholders, has expanded on a global scale. Our mission is to grow sustainably alongside society, pursue development for the world, and enable better lives for all.
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.
Arnoud Star Busmann
CEO, MineHub Technologies Inc.
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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.