MineHub Technologies will use proceeds of its now completed C$3.15 million equity raising to advance development of its blockchain-based digital trading platform, the company said.
Toronto Venture Exchange-listed MineHub issued 3.5 million units – comprising one share and a half warrant – at C90c, with whole warrants exercisable at $1.50 within two years.
The company’s share price is down about 17.5% year-to-date at C80c, capitalising MineHub at about $49m.
It launched the non-brokered private placement in February.
“Recent announcements, including our partnership with … Sumitomo Corp, along with expected traction from existing and new large corporate customers, highlight the company’s potential growth path in 2022,” MineHub CEO Arnoud Star Busmann said at the time.
“This financing is being done with key investors to support what we expect to be significant adoption and rollout of the MineHub platform in multiple large corporate networks.”
