Business
MineHub and Waybridge Combine to Create the Leading Digital Platform for Commodity Supply Chains
Vancouver, British Columbia--(Newsfile Corp. - March 2, 2023) - MineHub Technologies Inc. ( TSXV...
About this update from Minehub Technologies, Inc.
[{"type":"text","content":"MineHub and Waybridge Combine to Create the Leading Digital Platform for Commodity Supply ChainsVancouver, British Columbia--(Newsfile Corp. - March 2, 2023) - MineHub Technologies Inc. (TSXV: MHUB) (OTCQB: MHUBF) (\"MineHub\" or the \"Company\") is pleased to announce that it has agreed with Waybridge Technologies Inc. (\"Waybridge\") to combine their operations and continue under the MineHub corporate structure. Both companies are leaders in the digital transformation of commodity supply chains, making them more efficient, resilient and sustainable.This combination brings immediate benefits to MineHub including: A highly accretive transaction that will immediately increase revenue, unlock substantial operational and product synergies and reduce the timelines to profitability.An accelerated path to critical mass - especially in the copper industry - and becoming the industry digital platform.Operations and customers in the top three industrial economies - USA, China and Japan - and key mining jurisdictions - Chile, Australia and Canada.An extended user base with more than 100 companies including leaders in key markets to grow the network effects for the Company's products and services.Digitally connecting complementary nodes of the supply chain enabling comprehensive traceability of materials from mine to end user - mitigating against fraud and enabling verification of compliance with ESG and trade regulations.Waybridge is a ground-breaking SaaS platform that provides seamless order processing, real-time shipment tracking, inventory management and reporting for the commodities ecosystem by automating data connections between customers and their entire supply chains. Waybridge has over 90 companies interacting digitally on its platform, including leading global manufacturers, such as Southwire and Superior Essex, as well as major miners, warehouses, and shipping companies. In 2022, Waybridge customers managed more than $7 billion of raw materials via the platform.Arnoud Star Busmann, CEO at MineHub Technologies, said: \"MineHub launched with a strong focus on connecting sales operations within mining companies to their customers for bulk commodities such as iron ore and metal concentrates. Waybridge started from the manufacturing side, connecting procurement operations with their metal suppliers. Both companies are working with ...