Abaxx and MineHub Forge Strategic Partnership to Revolutionize Commodities Markets
Vancouver, BC
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August 01, 2024 08:30 AM Eastern Daylight Time
On behalf of MineHub Technologies Inc.
As the energy transition accelerates, the mining industry faces labor strikes, transport constraints, and natural disasters, impacting copper availability and costs. Despite easing bottlenecks, geopolitical risks and climate issues still affect shipping. Governments and businesses focus on secure mineral sourcing and strategic endeavors to stabilize supply chains. MineHub Technologies Inc. (TSXV:MHUB) (OTCQB:MHUBD) is improving the efficiency, resilience, and sustainability of the metals and mining industry through its digital supply chain platform.
The platform offers enterprise-grade digital solutions that connect buyers, sellers, laboratories, and financiers within physical commodities supply chains through a digitally integrated workflow. This workflow is powered by data that is usable, shareable, verifiable, and unforgeable. MineHub solutions give users complete control over their supply chains, allowing them to optimize resource use, respond quickly to disruptions, and deliver superior customer service. Major global enterprises already utilize MineHub solutions for logistics, compliance, trade management, and financing operations.
Abaxx Is Acquiring an 11% Ownership Interest in MineHub
MineHub Technologies Inc. (TSXV:MHUB) (OTCQB:MHUBD) recently announced a share exchange agreement with Abaxx Technologies Inc, where Abaxx will acquire an approximate 10.9% ownership interest in MineHub. This partnership aims to drive digitization more broadly within the physical commodities markets.
Abaxx, the indirect majority-owner of Abaxx Exchange and Abaxx Clearing, has developed and deployed technologies that unlock latent value in global markets, making communication, trade, and transactions easier and more secure. The companies share a mission to improve data transparency and empower market participants with better tools to navigate the evolving commodities landscape, which faces challenges such as climate change, the energy transition, and increasing regulatory pressure. Comprehensive digital tools are essential to adapt to this changing environment.
Abaxx and MineHub are partnering to explore a wide range of commercial and product collaboration opportunities, leveraging their collective expertise and capabilities to enhance value for customers and shareholders. The collaboration aims to integrate Abaxx and MineHub digital tools to broaden the value available to customers and increase commercial traction. It will also facilitate entry into new commodities markets beyond MineHub's historical focus on copper and aluminum. Additionally, the partnership will utilize Abaxx's ID++ identity protocol to enrich MineHub's secure and user-friendly communication tools.
This collaboration will strengthen the physical commodities market's ability to meet evolving sustainability requirements, such as reporting, carbon offsetting, and traceability. Furthermore, it will enable more efficient and secure hedging by bridging physical and financial commodities data while maintaining data privacy. Lastly, the partnership will promote compliance within the dynamic global regulatory landscape.
Andrea Aranguren, President, CEO, and Director of MineHub, highlighted the numerous collaboration opportunities with Abaxx, emphasizing how the partnership will leverage their combined strengths to capitalize on market momentum and expedite tool adoption, ultimately maximizing customer value.
Under the Share Exchange Agreement, MineHub will receive Abaxx common shares in exchange for issuing its own shares, representing a certain percentage of MineHub. Abaxx will also receive MineHub share purchase warrants, exercisable for three months from the Closing Date. If exercised, these warrants will increase Abaxx’s ownership to 19.9%
MineHub Reports Record Revenue for Fiscal Q1-2025
MineHub achieved record revenue of $776,000 in Fiscal Q1-2025, marking a 127% increase compared to Fiscal Q1-2024. This revenue included $300,000 from the completion of a successful development project.
MineHub is experiencing accelerating customer activity with several industry leaders, including Codelco, Sumitomo, Surecomp, and Southwire. By the end of Fiscal Q1-2025, the company had expanded its ecosystem to include over 165 companies connected to MineHub’s network.
Click here to learn more about MineHub Technologies Inc. (TSXV:MHUB) (OTCQB:MHUBD).
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