Vancouver, British Columbia–(Newsfile Corp. – June 28, 2022) – MineHub Technologies Inc. (TSXV: MHUB) (OTCQB: MHUBF) (“MineHub” or the “Company”) is pleased to announce that the Maritime and Port Authority of Singapore (“MPA”) has awarded MineHub a grant to co-fund a project using the MineHub platform to promote open standards and interoperability of Electronic Bills of Lading (“eBL”) ). MineHub has been focused on removing friction from supply chain operations through digitization, and enabling and promoting the use of electronic bills of lading is core to MineHub’s mission.
Arnoud Star Busmann, CEO of MineHub Technologies, said, “The support of the Government of Singapore through its institutions such as MPA and IMDA is essential in moving the industry towards digitalization. We are very pleased to contribute to this momentum and to work with the industry to promote the use of electronic bills of lading, enabling interoperability between existing platforms and suppliers through open standards. »
The bill of lading is the most important international trade document. It underpins all maritime transactions, which account for 80% of global trade, but since it generally has to be presented on physical paper to be legally valid, it has also prevented trade from being fully digitized and, as such, is a major source of treatment costs. and delays.
In fact, some of the supply chain disruptions we’ve seen in recent years are a direct result of pandemic shutdowns preventing couriers from delivering physical paper bills of lading to banks or customers, which in turn delays the settlement of payments and unloading of cargo. Expeditions that involved eBLs fared much better, and as such, eBL usage grew rapidly.
Only 0.1% of bills of lading today are issued as eBL and are only valid in limited or closed systems, each guided by its own rules and standards. Supply chain parties also have different bill of lading formats or different computer system requirements. Changes are afoot in the regulatory landscape, however, as Singapore and several other countries have adopted the UNCITRAL Model Law for the Electronic Transfer of Records. It was recently announced that the UK is also working to adopt electronic bills of lading into English law, the law governing most global trade.
Additionally, the Company closed its Annual General Meeting on June 22, 2022, during which all items proposed at the meeting were approved, and Arnoud Star Busman was appointed to the Board of Directors. Please refer to the Company’s Information Circular as filed on SEDAR.
About MineHub Technologies
MineHub is an enterprise-grade open platform for digital commerce, bringing efficiency, transparency and accountability to supply chains. MineHub connects the many parties involved in a physical commodity transaction in a digitally integrated workflow, operating on the basis of authentic and validated shared information secured by a global enterprise blockchain network. MineHub users have full control of their supply chains, allowing 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.
Arnoud Star Busmann
CEO, MineHub Technologies Inc.
For more information on MineHub, please email [email protected]Minehub.comor visit the website at
Citigate, Angus Campbell at [email protected]
RB Milestone Group, LLC (RBMG) at [email protected]
Caution 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 press release contains statements that qualify as “forward-looking information” within the meaning of applicable Canadian securities laws (“forward-looking statements”) with respect to MineHub, including, but not limited to, statements regarding MineHub’s future operational plans, timing of those plans and anticipated customers. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends », « esteem » and others. expressions, or that events or conditions “will”, “would”, “could”, “could” or “should” occur. Although MineHub believes that the expectations expressed in these forward-looking statements are based on reasonable assumptions, these statements are not guarantees of future performance, are subject to risks and uncertainties, and actual results or realities may differ materially from those forward-looking statements. . These 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 or financial market conditions. , changes in laws or regulations that could have an impact on the Company’s operations, its dependence on its key managers and competition in the market. 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 currently unknown risk factors that management believes are not material that could also cause actual results or future events to differ materially from those expressed in these forward-looking statements. 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 as of 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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