Vancouver, British Columbia–(Newsfile Corp. – June 9, 2023) – MineHub Technologies Inc. (TSXV: MHUB) (OTCQB: MHUBF) (“MineHub” or the “Company”) is pleased to announce it has closed a non-brokered private placement for total gross proceeds of $1,000,000. The Company issued 5,000,000 units at a price of $0.20 per unit. Each unit is comprised of one common share and one-half of one transferable share purchase warrant. Each warrant is exercisable into a common share for 2 years at a price of $0.40 per common share.
Arnoud Star Busmann, CEO at MineHub said: “This financing completes the intended total raise of $2 million previously announced by the Company. We continue to gain traction from existing and new large corporate customers as we move through the Company’s potential growth path with continued expectations of significant adoption in multiple large corporate networks.”
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. The Company has also agreed to extend the term of 2,037,500 share purchase warrants issued on April 17, 2023 and expiring on April 17, 2025, such that the new warrant expiry date would be April 17, 2026. Each warrant remains exercisable at $0.40 into one common share. The warrant term extension is subject to TSXV 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.
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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