MineHub is a technology company leveraging blockchain technology to develop a new generation of applications for the metals and mining industry. The initial application to be released focuses on supply chain and asset management to create a secure, traceable and streamlined journey of assets from the mine site to the smelter and beyond. The MineHub application looks to significantly reduce cost and solve issues around lack of transparency and create visibility and accountability with real-time asset information available at every step of the supply chain worldwide.
Vince Sorace, President & CEO of Kutcho Copper, said: “MineHub presents a remarkable opportunity for Kutcho Copper shareholders to benefit from ownership in this ground-breaking technology which we believe can transform the mining industry. Each syndicate member brings a unique perspective and knowledge that will assist in developing applications around solutions to real problems in the mining industry. Working together, MineHub will be exposed to the vast knowledge and experience of the syndicate that will drive application development to become adopted and useable by industry as a whole”.
MineHub’s technology complements Kutcho Copper’s plans to advance its copper-zinc-silver-gold project in British Columbia where concentrates would be produced, and Kutcho Copper would look to realise cost savings through use of the application.
Each syndicate member will appoint a person to a product steering committee and to MineHub’s advisory board around a multi-year commitment. Syndicate members will receive a founder’s equity position in MineHub and are entitled to pre-emptive rights to participate in equity financings. All intellectual property produced by MineHub will be the sole and exclusive property of MineHub.
