NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Vancouver, B.C., October 18, 2022. MineHub Technologies Inc. (TSXV: MHUB, OTCQB: MHUBF) (“MineHub” or the “Company”) is pleased to announce a non-brokered private placement (the “Private Placement”) to raise total proceeds of up to C$2,000,000. The Private Placement will consist of 10,000,000 units at a price of $0.20 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 $0.30. The Warrants are subject to an accelerated expiry if the Company’s common shares trade above $0.60 for a period of 10 consecutive trading days (once the statutory hold period has expired). Following the occurrence of an acceleration event, the Company will give notice of the acceleration event by way of news release or notice to the holders of the Warrants and the Warrants will expire 30 days following the Company’s issuance of the notice.
Arnoud Star Busmann, CEO at MineHub said: “This financing will be conducted with many of the Companies key shareholders who understand both the immediate and long term upside potential of the Company. We continue to gain traction from existing and new large corporate customers as we move through the Companies potential growth path with expectations of significant adoption and rollout of the MineHub platform in multiple large corporate networks”.
Proceeds of the Private Placement will be used for general working capital purposes. The completion of the Private Placement is subject to approval of the TSX Venture Exchange (“TSXV”). All shares issued under the Private Placement will bear a hold period of four months and one day from the date of issuance. The Company will pay finder’s fees in connection with Private Placement as permitted by applicable securities laws and the rules of the TSXV.
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.
For further information regarding MineHub, please email info@Minehub.com or visit our website at www.minehub.com