Canadian mining tech microcap MineHub Technologies has raised C$2 million via an equity funding at C20c as it continues to pursue “significant adoption and rollout of the MineHub platform in multiple large corporate networks”.
The Toronto-listed company (TSXV: MHUB) attached warrants giving the holder an option to buy shares within two years at 30c with the 10 million new shares issued in its non-brokered private placement.
MineHub raised C$3.15m at 90c a share in April this year.
The company’s share price has come down from highs around $1.90 a year ago to the current 22c, capitalising it at $14m.
MineHub launched its digital trading platform in October 2019.
It has entered into commercial deals with companies such as BHP, China Minmetals and Sumitomo Corporation.
CEO Arnoud Busmann said in June this year: “We bring to market one of the most proven innovative solutions for supply chains and we expect this to result in revenue growth in the near future.”
He said this week the latest financing involved “key shareholders who understand both the immediate and long-term upside potential of the company”.
“We continue to gain traction from existing and new large corporate customers as we move through the company’s potential growth path with expectations of significant adoption and rollout of the MineHub platform in multiple large corporate networks.”