MineHub Launches Pilot Program with Southwire and Port Panama City, Florida for Digital Truck Bills of Lading

Rhea-AI Summary

MineHub Technologies launched a digital truck bills of lading pilot program with Southwire and Port Panama City, Florida. This initiative aims to modernize copper cathode shipment processes, enhancing real-time tracking and security. The pilot, which began in April, has already increased GPS tracking of trucks from 0% to over 94% within a month. MineHub's digital solution aims to address copper theft issues and improve supply chain efficiency, with plans to achieve 100% tracking in the coming months. The program will provide a secure, self-service platform for shipment management.

Positive

• MineHub's pilot program increased GPS tracking of trucks from 0% to over 94% within a month.
• The digital bills of lading program aims for 100% tracking of all outbound truck shipments.
• Collaboration with Southwire and Port Panama City enhances security and visibility for copper shipments.
• The initiative addresses copper theft, a significant issue in the US.
• Customers will have access to a secure self-service portal with advanced tracking features.
• The program sets new standards for supply chain management by embracing digital innovation.
• The pilot's success may attract more companies to adopt the digital bills of lading system.

Negative

• The program is still in the pilot phase and has not yet achieved full implementation.
• The success of the initiative is contingent on further refinements and customer feedback.
• There is a risk of potential delays in achieving 100% tracking for all shipments.

Benefits of switching from paper to digital bills of lading include access to real-time tracking of shipments and centralization of the bill of lading process on a secure self-service platform.

Vancouver, British Columbia--(Newsfile Corp. - May 21, 2024) - MineHub Technologies Inc. (TSXV: MHUB) (OTCQB: MHUBF) ("MineHub" or the "Company"), a leading provider of digital supply chain solutions for the commodity markets, is proud to announce the launch of an initiative with its collaborators Southwire Company, LLC ("Southwire") and the Panama City Port Authority ("Port Panama City" or the "Port") in Florida to pilot a revolutionary digital truck bills of lading program.

The initial phase of the pilot commenced in April. This innovative initiative aims to modernize and streamline the transportation process for copper cathode shipments while also improving real-time tracking into shipments leaving Port Panama City. By collaborating with the Port, MineHub unlocks its ability to provide enhanced security and improved visibility into truck shipments of copper. This comes at a critical time as theft of copper continues to be a major issue throughout the United States. Southwire's leading market position and commitment to digitization enabled MineHub to gain necessary engagement from key logistics allies, such as trucking companies and freight brokers.

The Port Panama City is a dynamic regional port that handles over two million tons of cargo annually. With its access to the Gulf of Mexico, the Port Panama City in Florida plays a crucial role in facilitating the movement of goods from overseas vessels to domestic consumers and traders via truck and rail. The Port continues to experience growth through continually investing in modern seaport infrastructure, promoting trade with countries around the globe, and aggressively supporting industrial development.

Recognizing the need for enhanced efficiency and security, MineHub is spearheading the adoption of digital truck bills of lading for outbound truck shipments from this critical port. The pilot has been ongoing for a month with impressive results. In addition to streamlining operational processes for the Port Panama City team, the digital truck bills of lading have enabled MineHub to dramatically improve visibility into truck shipments. In a one-month period, MineHub has increased the percentage of trucks being GPS-tracked from 0% to over 94%. In the coming months, MineHub will aim for 100% tracking for all outbound truck shipments to Southwire. Based on the success of this initiative, more companies may likely see the added value in the ability to have a visible and secure bill of lading system for truckload shipments.

Andrea Aranguren, President & CEO of MineHub stated, "We are excited to be embarking on this transformative journey with Southwire and the Port Panama City, revolutionizing the way we manage and track our shipments. Digital bill of ladings stand as another ground-breaking tool in our arsenal, poised to revolutionize supply chain management and to pilot them through Southwire, one of the largest wire and cable producers in the world, further validates the technology. By embracing digital innovation, we aim to enhance efficiency, security, and customer satisfaction, ultimately setting new standards for the industry."

Marcel Brinkhof, Vice President of Metals Procurement at Southwire commented, "Launching this pilot with MineHub marks an important chapter in our journey, one where we reimagine the possibilities of shipment management and tracking. The introduction of digital bill of lading represents a pivotal step in Southwire's efforts toward continuous improvement and our joint mission with MineHub to redefine supply chain management practices. We are excited to witness the opportunities and efficiencies unlocked by digital bills of lading."

"We appreciate the efforts and collaboration between MineHub, the Port team, and Southwire to bring this project to fruition," Alex King, Port Director for Port Panama City, Florida commented. "Adding security and visibility to the supply chain for cargoes moving between the Port and our customers is vital to delivering long-term growth and success of our customers, and every stakeholder in our port community."

As the pilot program continues, MineHub is gathering valuable insights and feedback to refine and expand its digital truck bills of lading initiative, paving the way for a more connected and sustainable future in logistics and transportation. The pilot program, slated to run for several months, will mark the transition from traditional paper-based to digital bill of ladings, providing a consolidated and secure platform for digital document storage. Customers of MineHub will benefit from a self-service portal equipped with advanced tracking features and access to digital documents, empowering them with greater visibility and control over their shipments.

About Southwire

Southwire Company, LLC is North America's leading wire and cable company. The $8B organization is made up of more than 9,000 team members across the globe who unite as ONE Southwire each and every day to serve each other, their customers and their communities. Southwire and its subsidiaries provide solutions including building wire and cable, metal-clad cable, utility products, portable and electronic cord products and OEM wire products. In addition, Southwire offers electrical products, engineered solutions and a variety of field support services. For more on Southwire's products and solutions, its community involvement and its vision of sustainability, visit www.southwire.com.

About Port Panama City

The Port Panama City is a dynamic regional port that handles over two million tons of cargo annually. The Port Authority provides full terminal and handling services for a diverse mix of containerized, breakbulk, and bulk cargoes. The Port also supports two on-port heavy manufacturing companies and supports several large manufacturers in the region with vital port services. The Port continues to experience growth through continually investing in modern seaport infrastructure, promoting trade with countries around the globe, and aggressively supporting industrial development.

About MineHub

MineHub is the digital supply chain platform for the commodity markets, making raw material supply chains more efficient, resilient and sustainable. MineHub provides enterprise-grade digital solutions that connect buyers, sellers, laboratories and financiers within physical commodities supply chains in a digitally integrated workflow powered by data that is useable, shareable, verifiable and unforgeable. Users of MineHub solutions are in full control of their supply chains, enabling them to optimize their use of resources, respond better and faster to disruptions, and provide a better customer service. Global enterprises already use MineHub solutions as part of their logistics, compliance, trade management and financing operations.

Andrea Aranguren
CEO, MineHub Technologies Inc.

For further information regarding MineHub, please email info@minehub.com or visit our website at www.minehub.com. Tel: (604) 628-5623

Cautionary Note 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 news release contains statements that are considered "forward-looking information" within the meaning of applicable Canadian securities legislation ("forward-looking statements") with respect to MineHub including, but not limited to, statements with respect to MineHub's future operational plans, the timing of such plans and anticipated customers. Forward-looking statements are statements that are not historical facts are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although MineHub believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward-looking statements. Such 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 conditions or financial markets, changes in laws or regulations that could have an impact on the Company's operations, dependence on its key management personnel and market competition. Other risk factors are identified in the Company's management discussion and analysis, available on the Company's SEDAR profile at www.sedar.com. There may be other risk factors not presently known that management believes are not material that could also cause actual results or future events to differ materially from those expressed in such forward-looking statements. Although the Company has attempted to identify risk factors that could cause actual actions, events or results to differ materially from those disclosed in the forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Also, many of the factors are beyond the control of the Company. Accordingly, readers should not place undue reliance on forward-looking statements or information. The forward-looking information is made as of the date included herein, and the Company assumes no obligation to publicly update or revise such forward-looking information. Forward-looking statements are based on the reasonable beliefs, estimates and opinions of MineHub's management on 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/209786

FAQ

What is MineHub's new pilot program with Southwire and Port Panama City?

MineHub has launched a digital truck bills of lading pilot program with Southwire and Port Panama City to modernize and streamline copper cathode shipments.

When did MineHub's pilot program for digital truck bills of lading start?

The pilot program commenced in April 2024.

How much has GPS tracking improved in MineHub's pilot program?

GPS tracking of trucks increased from 0% to over 94% within a month.

What is the stock symbol for MineHub?

The stock symbol for MineHub is MHUBD.

What security issue does MineHub's pilot program address?

The pilot program aims to address the issue of copper theft in the United States.

What are the benefits of MineHub's digital truck bills of lading?

Benefits include real-time tracking, improved security, and a centralized, secure self-service platform for shipment management.

What percentage of trucks does MineHub aim to GPS track?

MineHub aims to achieve 100% GPS tracking of all outbound truck shipments.