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MineHub and Waybridge Combine to Create the Leading Digital Platform for Commodity Supply Chains

March 2, 2023

Press Releases

Vancouver, B.C., March 2, 2023. MineHub Technologies Inc. (TSXV: MHUB, OTCQB: MHUBF) (“MineHub” or the “Company”) is pleased to announce that it has agreed with Waybridge Technologies Inc. (“Waybridge”) to combine their operations and continue under the MineHub corporate structure. Both companies are leaders in the digital transformation of commodity supply chains, making them more efficient, resilient and sustainable.

This combination brings immediate benefits to MineHub including:

  • A highly accretive transaction that will immediately increase revenue, unlock substantial operational and product synergies and reduce the timelines to profitability.
  • An accelerated path to critical mass – especially in the copper industry – and becoming the industry digital platform.
  • Operations and customers in the top three industrial economies – USA, China and Japan – and key mining jurisdictions – Chile, Australia and Canada.
  • An extended user base with more than 100 companies including leaders in key markets to grow the network effects for the Company’s products and services.
  • Digitally connecting complementary nodes of the supply chain enabling comprehensive traceability of materials from mine to end user – mitigating against fraud and enabling verification of compliance with ESG and trade regulations.

Waybridge is a ground-breaking SaaS platform that provides seamless order processing, real-time shipment tracking, inventory management and reporting for the commodities ecosystem by automating data connections between customers and their entire supply chains. Waybridge has over 90 companies interacting digitally on its platform, including leading global manufacturers, such as Southwire and Superior Essex, as well as major miners, warehouses, and shipping companies.  In 2022, Waybridge customers managed more than $7 billion of raw materials via the platform.

Arnoud Star Busmann, CEO at MineHub Technologies said: “MineHub launched with a strong focus on connecting sales operations within mining companies to their customers for bulk commodities such as iron ore and metal concentrates. Waybridge started from the manufacturing side, connecting procurement operations with their metal suppliers. Both companies are working with industry leaders – Waybridge more focused in North America, and MineHub in Asia. The combination instantly realises an end-to-end global solution for the full supply chain from mine to market. Both platforms have been adopted by industry leaders that have the scale to influence market practices. We have the potential to significantly reduce timelines to reach critical mass and become an industry standard, creating network value for our customers.”


“All the data that key industries like automotive, construction, batteries, and energy infrastructure need to verify compliance with ESG policies, trade regulations or determine their Scope 3 emissions exposure will be captured and accessible in one place. Producers can protect and enhance their brands with digital content including origin, ESG performance, emissions and provenance as their products move through the supply chain towards the end user. Likewise, companies and their financial partners will be able to reduce fraud risk by providing end-to-end visibility and traceability of physical materials.”

Scott Evans, CEO at Waybridge Technologies said “MineHub and Waybridge are uniquely aligned in their vision to digitize commodity supply chains and unlock the value that technology can bring to one of the world’s most critical industries. Together, we will transform the way market participants interact with each other by providing unprecedented visibility and data analytics, robust sustainability reporting, and operational efficiency to the foundational layer of the global economy.”      

MineHub expects to retain certain employees and members of the Waybridge management team in the United States and the United Kingdom upon closing, including:

  • Andrea Aranguren (current Chief Customer Officer & Co-founder of Waybridge) – 10 years of experience in commodities (oil & gas, metals, and environmental) operations and in helping startups to optimize their logistics & manage their supply chains. Previously, Andrea was VP of Logistics at Goldman Sachs and VP of Environmental Markets at IHS Markit.
  • Kyle McCarter (current Chief Product Officer at Waybridge) – Client services leader with 12+ years experience helping enterprises like Yahoo! Japan, Microsoft, Wal-Mart, and Walgreens to use emerging technologies to solve their most important business problems.

Scott Evans (current CEO & Co-Founder of Waybridge) brings over 20 years of experience in physical commodity trading at firms like Goldman Sachs, Mitsubishi and Concord Resources, and will be appointed to MineHub’s Advisory Board and assist the MineHub executive team with commercialization and strategy.

MineHub, and its wholly owned subsidiary MineHub (USA) Inc., have entered into a definitive asset purchase agreement with Waybridge dated March 1, 2023 (the “Purchase Agreement”) for the purchase or assignment of certain operational assets, intellectual property, contracts and accounts receivable of Waybridge (collectively, the “Assets”).

MineHub has agreed to pay estimated consideration of USD2,500,000 for the purchase of the Assets, payable in common shares of the Company (the “MineHub Shares”). The purchase price is subject to adjustment for post-closing receivables, as more particularly set out in the Purchase Agreement. The MineHub Shares will be issued at a deemed price per MineHub Share equal to the 20 day VWAP preceding the closing date, which is anticipated to be on or about March 7, 2023, subject to TSX Venture Exchange approval.  The MineHub Shares will be issued to Waybridge, with the expectation that the MineHub Shares be transferred to accredited investor stockholders of Waybridge following closing.  The MineHub Shares will bear a Canadian securities law hold period of four months and one day from the date of issuance and the Purchase Agreement provides for an additional contractual restriction, such that the MineHub Shares are restricted from transfer from the closing date and released in tranches, such that 12.5% of such MineHub Shares are released each quarterly period from the closing date.

About MineHub Technologies

MineHub is an enterprise-grade platform connecting all parties along the physical commodities supply chain. The MineHub platform replaces existing processes in which thousands of data interactions and scores of documents are shared amongst counterparties by fax, phone and e-mail. By digitizing the complex workflow among participants in a physical commodity transaction, MineHub brings efficiency and security to the mining and metals supply chain. MineHub allows firms to create data that is useable, shareable, verifiable and unforgeable. Global enterprises already use MineHub as part of their logistics, compliance, trade management and financing operations.

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

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.

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