MineHub Completes Acquisition of Jules AI, Creating Comprehensive End-to-End Digital Platform for Primary and Recycled Materials
Executive Summary
- MineHub Technologies Inc. completed the acquisition of Jules AI from Nyteco Inc., issuing 2,550,960 common shares and paying US$469,806 in cash.
- The transaction includes a structured earn‑out and lock‑up schedule for the consideration shares, with additional cash or share payments possible under the agreement.
- Haywood Securities acted as financial advisor and received an advisory fee of C$100,000 paid via 135,135 MineHub shares.
Key Details
- Consideration:
- 2,550,960 MineHub common shares issued at a deemed price of C$0.74 per share (total equity consideration ≈ C$1.89 M).
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Cash payment of US$469,806 in two installments: US$227,034 paid at closing; US$242,772 payable in December 2025.
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Lock‑Up Restrictions:
- All issued shares (consideration, earn‑out, and working‑capital shares) subject to a statutory hold period of four months + one day plus contractual resale restrictions.
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Release schedule: 10% of shares released 13 months after closing, 15% at 25 months, balance at 37 months. Earn‑out shares may have lock‑up up to 49 months, with earliest release at 37 months.
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Earn‑Out / Working‑Capital Adjustments:
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Future earn‑out consideration (cash or additional shares) described in MineHub’s September 25 2025 release; working‑capital adjustments may be paid via additional MineHub shares (“WC Shares”).
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Advisory Fee:
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Haywood Securities received C$100,000 (plus taxes), paid by issuing 135,135 MineHub shares at the same deemed price of C$0.74 per share. These shares also carry a four‑month + one‑day hold period.
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Regulatory Condition:
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Transaction remains subject to final approval by the TSX Venture Exchange.
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CEO Comment:
- “The closing of the Jules AI acquisition marks a pivotal moment for MineHub and the future of the recycling industries… We are excited about the opportunities this technology unlocks for our customers and the broader industry.” – Andrea Aranguren, CEO
Notable Quotes
- “Jules AI's innovative, AI‑driven platform directly addresses the persistent inefficiencies that have plagued these markets… we are equipping traders with the tools they need to thrive in a rapidly evolving landscape.” – Andrea Aranguren, CEO, MineHub Technologies Inc.