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MineHub Announces Closing of Private Placement

January 31, 2024

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Vancouver, B.C., January 31, 2024. MineHub Technologies Inc. (TSXV: MHUB, OTCQB: MHUBF) (“MineHub” or the “Company”) is pleased to announce it has closed a non-brokered private placement (the “Private Placement” or “Offering”) for total gross proceeds of C$4,038,800. The Company issued 36,716,366 units at a price of $0.11 per unit (“Units”).  Each Unit will consist of one common share in the capital of the Company and one transferable common share purchase warrant exercisable at a price of $0.20 per common share for a period of 36 months from the closing date. The Company intends to use the net proceeds raised from the sale of Units for general administrative and working capital purposes.

In connection with the closing, the Company agreed to pay cash finder’s fees of $137,536 and issue 1,007,329 finder warrants, each finder warrant exercisable to purchase one common share for 12 months at a price of $0.20 per common share.  All securities issued under the private placement are subject to a hold period of four months and one day from closing.  The Private Placement is subject to final TSX Venture Exchange (“TSXV”) approval.

Certain directors and officers of the Company have participated in Private Placement which participation constitutes a related-party transaction, as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions.  The issuance of the Units is exempt from the formal valuation requirements of Section 5.4 of MI 61-101, pursuant to Subsection 5.5(a) of MI 61-101, and exempt from the minority shareholder approval requirements of Section 5.6 of MI 61-101, pursuant to Subsection 5.7(1)(a) of MI 61-101.

The securities to be offered pursuant to the Offering have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”) or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About MineHub

MineHub provides enterprise-grade digital solutions that connect buyers, sellers, laboratories and financiers within physical commodities supply chains in a digitally integrated workflow powered by data that is useable, shareable, verifiable and unforgeable. Users of MineHub solutions are in full control of their supply chains, enabling them to optimize their use of resources, respond better and faster to disruptions, and provide a better customer service.  Global enterprises already use MineHub solutions as part of their logistics, compliance, trade management and financing operations.

Andrea Aranguren
CEO, MineHub Technologies Inc.

For further information regarding MineHub, please email info@minehub.com or visit our website at www.minehub.com.  Tel: (604) 628-5623

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.

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