Vancouver, B.C., April 12, 2023. MineHub Technologies Inc. (TSXV: MHUB, OTCQB: MHUBF) (“MineHub” or the “Company”) is pleased to be hosting a panel discussion during the World Copper Conference and Cesco Week in Santiago, Chile, between April 17th and April 19th, 2023. In this panel discussion, executives from Codelco, Southwire and Sumitomo Corporation will be engaging in a conversation to share the drivers behind their digitization efforts.
CESCO Week and the World Copper Conference provide some of the most important commercial and networking opportunities in the mining industry, attracting in excess of 2000 delegates. Both events are renowned for the calibre of delegates and attract CEO participants from the world’s most important miners and smelters.
Arnoud Star Busmann, CEO at MineHub Technologies said: “We are excited to be at the World Copper Conference to discuss and showcase with delegates the opportunities MineHub can bring to digitizing the mining industry. We are also pleased to be able to host a panel on the opening day, with industry leaders Codelco, Southwire and Sumitomo Corporation, who will share their views on the challenges and opportunities in the digital transformation of metals and mining supply chains.”
At a time when ESG and trade regulation, supply chain disruption and labor shortages are becoming the norm, the need for transparency and digitization is becoming increasingly urgent. Modern digital tools can ease the significant operational burden of administering commodity shipments, provide mine-to-market visibility and traceability for buyers and sellers, as well as meaningfully reduce instances of fraud in the supply chain.
In addition, the Company announces that it has extended the maturity date of convertible debt in the principal amount of $771,000 that is due on July 31, 2023 (the “Convertible Debt”). The due date of the Convertible Debt will be extended to July 31, 2024. Other than the extension of the maturity date, the terms of the Convertible Debt instruments remain the same. $644,500 of the Convertible Debt bears simple interest of 5% and the lenders therein have an option to convert all or a portion of the principal amount into Units (defined below) at a deemed price of $0.25 per Unit. Each unit (a “Unit”) consists of one Common Share and one-half share purchase warrant (each whole, a “Warrant”), with each Warrant entitling the holder thereof to purchase one Common Share of the Company an exercise price of $0.50 per Common Share. Pursuant to the extension of the Convertible Debt, the underlying Warrants issuable on conversion of the Convertible Debt to Units will also have the expiry date of such Warrants extended by one year, from July 31, 2024 to July 31, 2025. A further principal amount of $126,500 of the Convertible Debt had the same interest rate and maturity date (and is likewise being extended to July 31, 2024) but is convertible into common shares at a deemed price of $0.25 per common share. The extension of the Convertible Debt is subject to TSX Venture Exchange approval.
About MineHub Technologies
MineHub provides enterprise-grade digital solutions that connect buyers, sellers 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.
Arnoud Star Busmann
CEO, MineHub Technologies Inc.