Canadian software company MineHub Technologies is raising C$5 million (US$3.5 million) via a private placement.
The company, which has just completed the acquisition of Toronto-based Jules AI, said the funds were for working capital and corporate purposes. ATB Capital Markets is lead agent for the placement.
MineHub issued $1.35 million of its shares at C74c a unit as part of a $1.9 million upfront payment for Jules AI. A further $18.1 million in earnout payments could be outlaid over the next three years. It is currently trading above $1.00 a share and is placing new shares at 95c.
MineHub says it provides enterprise-grade digital solutions that securely connect buyers, sellers, laboratories and financiers in physical commodities supply chains.
CEO Andrea Aranguren said the Jules AI acquisition opened the door to creation of an end-to-end digital platform for primary and recycled materials.
“The closing of the Jules AI acquisition marks a pivotal moment for MineHub and the future of the recycling industries,” she said.
“Jules AI’s innovative, AI-driven platform directly addresses the persistent inefficiencies that have plagued these markets. By automating critical functions from data entry to compliance we’re not just modernising workflows, we’re equipping traders with the tools they need to thrive in a rapidly evolving landscape.
“We are excited about the opportunities this technology unlocks for our customers and the broader industry.”
