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Vancouver, B.C., February 22, 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$3,000,000. The Private Placement will consist of 3,000,000 units at a price of $1.00 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 $1.50.
Arnoud Star Busmann, CEO at MineHub said: “Recent announcements, including our partnership with a conglomerate such as Sumitomo Corp, along with expected traction from existing and new large corporate customers, highlight the Companies potential growth path in 2022. We have continued to attract fundamental investors who understand both the immediate and long term upside potential of the Company. This financing is being done with key investors to support what we expect to be significant adoption and rollout of the MineHub platform in multiple large corporate networks, and look forward to 2022 as an exciting and transformative year for the Company”.
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.
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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.