Oakville, ON (GLOBE NEWSWIRE) - OpenPort Ltd., the digital logistics platform that uses blockchain technology to transform domestic distribution in emerging markets, today announces its first commercial partnership built on a re-seller agreement with Heavyweight Group Special Projects(Pty) Ltd, an outsource specialist dedicated to providing customers with flexible and cost-effective logistics solutions mainly focused on bulk logistics for Southern Africa.
The supply chain is filled with complexity due to its many verification processes from manufacture to transport. According to Neil Orleow, joint-CEO of Heavyweight Group Special Projects, “From our perspective as a major logistics provider, one of the core challenges in today’s supply chain is the lack of traceability and transparency across the different delivery points, which creates small gaps that all accumulate together resulting in major discrepancies in transactions.”
As of now, the partnership’s goal is to provide an integrated system that can manage the logistics chain from top to bottom with traceability and verification in mind — a feat which can be accomplished with OpenPort’s proven blockchain-enabled transport management system (TMS) for enterprises. The partnership intends to focus on two major verticals, fast-moving consumer goods and mining. OpenPort’s Mining Operations Logistics Solution (MOLS) is built in partnership with Canoe Mining Ventures, and specifically tailored to serve the traditional mining industry using a blockchain protocol for recording the tracking and delivery of core samples and other raw or finished resources.
Commenting on the partnership, OpenPort CEO Max Ward said, “Rapid growth across many industry verticals is placing strain on their supply chains. The mining industry’s fragmented supply chain is just one example of how problems with traceability, transparency, and verification chip away at cash flow and margins.”
“OpenPort’s blockchain solution aims to provide Heavyweight Group Special Projects and their clients across Africa with greater visibility through an integrated supply chain, knitting the complex and fragmented parts of the supply chain together. With Heavyweight Groups’ years of experience in bulk logistics, we are confident that the partnership will not only yield the intended results but will also serve as a huge step in addressing the many inefficiencies in the modern supply chain,” Ward added.
According to Orleow, “Logistics management is filled with inefficiencies that can be solved with the right technical solutions. We at Heavyweight Group are confident that this partnership with OpenPort is a step in the right direction.”
“Our business philosophy at Heavyweight Group was always to approach business with courage and discipline. We believe that this partnership places us in a better position to address through advanced technology the needs of the industries we support, in a world where consumer demands are exponentially growing, and logistics are becoming more fragmented,” added Orleow.
“Partnerships like these are a testament to our ambition to extend the reach of blockchain-powered logistics across different industries, starting with our partnership with Canoe Mining Ventures in developing the MOLS product. Collaborating with Heavyweight Group, an established bulk logistics provider with years of experience operating in complex industries, is a proud moment and a huge stepping stone for OpenPort in Africa. We look forward to a lasting relationship,” said Ward.
About OpenPort Ltd.
A multinational logistics technology provider, OpenPort’s blockchain solutions deliver supply chain transparency for the world’s largest companies. Overcoming the inefficiencies of paper-based systems of record-keeping, OpenPort provides irrefutable shipment visibility from pickup to delivery for maximum security, trust and traceability.
With OpenPort’s smart contract platform, users can determine exactly what was delivered, when, and by whom. They are rewarded for sharing information and can connect the movement of goods with payment for improved cash flow and liquidity.
For more information about OpenPort visit: https://openport.com/
About Heavyweight Group Special Projects (Pty) Ltd.
Heavyweight Group Special Projects (Pty) Ltd is an outsource specialist dedicated to providing customers with flexible and cost-effective logistics solutions that work. With an established track record in logistics, partnering with us allows you to focus on your core business.
The company has established itself as a major logistics player responsible for the movement of thousands of tons of cargo per month on behalf of its valued customers. Road transport is the foundation upon which the company has been built. This service offering remains the heartbeat of the company and provides the platform from which our other service offerings have been developed.
For more information about Heavyweight Group visit: http://www.heavyweightgroup.com
About Canoe Mining Ventures
Canoe is a public company listed on the TSXV exchange - symbol CLV - which is governed by the laws of Canada. Its primary asset is a 100% interest in the Kerr Township property and a 50% interest in the Mining Operations Logistics Solution (“MOLS”) currently being built in partnership with OpenPort to service the traditional mining industry using a blockchain protocol. Canoe and OpenPort have signed a Letter of Intent to merge the two companies into one public trading entity.
For more information about Canoe visit: http://www.canoemining.ca/
Forward Looking Statements
This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release or other future plans, objectives or expectations of Canoe are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Canoe expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
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