MineHub Appoints Chief Operating Officer

Rhea-AI Summary

MineHub Technologies Inc. (TSXV: MHUB) (OTCQB: MHUBF) has appointed Esther Babb as Chief Operating Officer. With over 20 years of experience in finance, including roles at Goldman Sachs and Citadel, Babb brings expertise in scaling teams and driving data strategies. She will lead the execution of MineHub's strategic and operational activities in the digital commodities sector.

The company also announced the resignation of Mariana Southern, former VP of Product and Engineering. In connection with her employment, MineHub granted Babb 400,000 stock options at $0.35 per share, exercisable for five years, subject to vesting requirements and TSX Venture Exchange policies.

Positive

• Appointment of experienced COO with 20+ years in finance and technology
• New COO's background in traditional finance and emerging technologies aligns with company's goals
• CEO expresses confidence in new team structure to capitalize on growth opportunities

Negative

• Resignation of VP of Product and Engineering
• Issuance of 400,000 stock options may lead to potential dilution for existing shareholders

Esther Babb brings over 20 years of experience in driving innovation and operational excellence

Vancouver, British Columbia--(Newsfile Corp. - September 11, 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 pleased to announce the appointment of Esther Babb as Chief Operating Officer ("COO"). In this role, Ms. Babb will be responsible for leading the execution of MineHub's strategic and operational activities.

Ms. Babb brings over 20 years of multifaceted finance roles, including 15 years at Goldman Sachs and Citadel where she worked closely with senior management scaling teams and driving data strategies. Ms. Babb spent more than ten years at Goldman Sachs, where she held various leadership positions, including vice president and executive director in the securities division in both New York and London. Her final role at Goldman Sachs was as product manager for the firm's newly formed data intelligence strategy team. At Citadel, LLC, Ms. Babb served as a senior business analyst for four years, directing a team of ten and collaborating closely with hedge fund business leaders. She played a key role in spinning out Encompass Capital Advisors, an energy-focused fund, from Citadel. Ms. Babb also held a corporate development role at Gemini, the first regulated crypto bank and exchange founded by the Winklevoss twins. With a strong background in both traditional finance and emerging technologies, Ms. Babb is well-positioned to drive growth and operational excellence in the rapidly evolving digital commodities sector. She earned a Bachelor of Arts in Economics from the University of Chicago.

Andrea Aranguren, MineHub's CEO, commented, "We are delighted to have Esther join MineHub's executive team. Her experience in commercializing and growing start ups with innovative technology is very relevant to MineHub. We have built a strong product and foundation for growth and look forward to Esther's contributions in translating that to commercial success."

Ms. Babb commented, "I am excited to join MineHub as Chief Operating Officer at this pivotal time for the company. MineHub's platform is transforming operations in the mining and metals sector, bringing unprecedented transparency and efficiency to supply chains in need of digital transformation. As the industry increasingly embraces data-driven solutions, I look forward to leveraging my experience to further enhance MineHub's operational capabilities and drive growth."

In addition, the Company announces the resignation of Mariana Southern, who had served as MineHub's VP of Product and Engineering.

"On behalf of the board and the entire team, I want to thank Mariana for her leadership of MineHub's product and engineering teams," commented Ms. Aranguren. "Mariana leaves behind a solid team that will continue advancing our platform for future growth and scalability, and with the addition of Esther, I believe we have the right team in place to capitalize on the opportunities in front of us."

In connection with her employment, MineHub has granted 400,000 stock options to Ms. Babb, with each option exercisable at a price of $0.35 cents per share for a period of five years. The stock options will be subject to vesting requirements, as determined by the board of directors. The options have been granted in accordance with the terms of the Company's current stock option plan and have a hold period of 4 months and a day from the date of issuance in accordance with the policies of the TSX Venture Exchange.

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.sedarplus.ca. 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/222928

FAQ

Who is the new Chief Operating Officer of MineHub Technologies (MHUBF)?

Esther Babb has been appointed as the new Chief Operating Officer of MineHub Technologies (MHUBF).

What is Esther Babb's professional background before joining MineHub (MHUBF)?

Esther Babb has over 20 years of experience in finance, including 15 years at Goldman Sachs and Citadel, where she worked on scaling teams and driving data strategies.

How many stock options were granted to Esther Babb by MineHub (MHUBF)?

MineHub (MHUBF) granted 400,000 stock options to Esther Babb, exercisable at $0.35 per share for a period of five years.

Who resigned from MineHub Technologies (MHUBF) as announced in the press release?

Mariana Southern, who served as MineHub's VP of Product and Engineering, resigned from the company.