Vancouver, British Columbia--(Newsfile Corp. - November 30, 2021) - MineHub Technologies Inc. (TSXV: MHUB) (OTCQB: MHUBF) ("MineHub" or the "Company") is pleased to announce that the MineHub Trade Finance application has been used by Kimura Capital and their client PY Commodities to finance three consecutive shipments of silver concentrate from Peru to China.
Kimura Capital is a leading alternative financier for physical commodity markets, and provides working capital solutions to large corporates as well as medium-size traders that are active in trading metals, energy and agricultural commodities. Minehub and Kimura have a shared vision on the importance of digitalisation and blockchain technology for bringing efficiency, transparency and security to commodity trade finance. This vision has now been realised in the form of the first live use of the MineHub Trade Finance application.
Kristofer Tremaine, Founder and CIO at Kimura said: "Demand for trade finance solutions is increasing while many commodity banks are exiting the sector, and traders are busting their credit limits with the banks that are still there. More and more parties are looking for alternative sources of working capital from firms like ours to keep their business going. We have tremendous opportunities for growing our book but need to be smart about it. Digitalisation and blockchain-based transparency are of fundamental importance to our ability to grow our asset base faster than our headcount whilst reducing risk. Our partnership with MineHub delivers exactly on that strategy, and we have started the roll-out of the MineHub solution across our portfolio of borrowers and commodities over the next period."
Arnoud Star Busmann, CEO at MineHub said: "Working with Kimura Capital is a great example of our general approach to develop with industry for industry. The Kimura team has been instrumental in helping us develop, refine and validate our Trade Finance solution. PY Commodities is very much representative of the type of commodity trading houses we would like and expect to sign up to MineHub as we roll out the platform and the Trade Finance application to more corporates and liquidity providers."
Henry Procter, Managing Director at PY Commodities said: "We recognise the value of technology in streamlining our interactions with our working capital providers. When our financing partner Kimura Capital introduced us to MineHub, we were impressed with the platform's potential and its readiness for our Chinese market. We look forward to embedding the platform in our day-to-day operations."
MineHub's blockchain-based Trade Finance application brings visibility, security and efficiency to financiers of commodity transactions by digitising the administration, authentication and communication between lenders and financiers. MineHub supports multiple financing structures, including unsecured loans, receivables and inventory financing as well as repos. MineHub Trade Finance is integrated with the core MineHub platform, and can be further integrated to ERP, trade finance and collateral management systems via its APIs.
About MineHub Technologies
MineHub is an open, enterprise-grade platform for digital trade, bringing efficiency, security and responsibility to mining and metals supply chains. MineHub connects the many parties involved in a physical commodity transaction in a digitally integrated workflow, operating on the basis of shared 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.
About Kimura Capital
Kimura Capital LLP is a regulated asset management firm headquartered in London, with offices and personnel in 15 countries across the globe. Kimura provides liquidity and working capital to commodity market participants on a risk adjusted basis, both short and long term. Kimura invests in the real economy, funding the production, processing and transportation of responsibly sourced vital resources, materials and food, required to support the global economy.
About PY Commodities
PY Commodities is a trading and agency company specialising in offering its services to Chinese smelters involved in the non-ferrous industry.
Arnoud Star Busmann
CEO, MineHub Technologies Inc.
For further information regarding MineHub, please email info@Minehub.com or visit our website at www.minehub.com.
Media Contact
Nominis Advisory, Angus Campbell at angus@nominis.co
Investor Relations
RB Milestone Group, LLC (RBMG) at minehub@rbmilestone.com
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, identi?ed 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 su?cient capital to fund its operations, applications and for general working capital purposes, changes in economic conditions or ?nancial 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.
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