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HUB Cyber Security Ltd. says it has signed a term sheet to acquire South Africa focused Ferrox Critical Minerals Ltd. and its Tivani minerals project in a $125 million all equity transaction, a bold pivot for a company better known for cybersecurity infrastructure than mining.
The company said the deal is aimed at pushing its Trust Rails platform beyond digital verification into what it calls real world asset validation, linking its data security tools to a critical minerals project that it believes can anchor new financial and compliance uses. The announcement comes as governments and defense industries scramble for secure supply chains for minerals tied to aerospace, energy and advanced manufacturing.
HUB said the Tivani project contains about 519 million tons of titaniferous magnetite ore with titanium dioxide, iron and vanadium resources. It said the project has mining rights, environmental approvals and water licenses, and it has access to existing rail and port infrastructure. The company said more than $70 million has already been invested in Tivani and that commercial production is expected to begin in its fiscal year 2026.
The proposed structure would pay Ferrox shareholders in stages. HUB said it would issue 19.9% of its outstanding shares when definitive agreements are signed, with additional shares to be issued after three performance milestones are met. The company said later issuances would depend on shareholder approval and other customary conditions.
Chief executive Noah Hershcoviz called Tivani a top tier permitted project with industrial relevance, and argued the transaction could strengthen HUB’s balance sheet while giving its Trust Rails system a bridge into regulated, asset backed use cases.
The plan still faces a long checklist. HUB said the deal remains subject to due diligence, definitive documentation and regulatory approvals. Investors also are likely to scrutinize the valuation, since HUB’s market value has recently been far smaller than the headline $125 million figure.
The company has had an eventful stretch. It recently launched a real time verification system aimed at rideshare safety, carried out a 1 for 15 reverse share split in January, and said it received a Nasdaq notice tied to market value compliance. HUB also announced a new chief financial officer, Limor Zur’Stoller, a finance executive with experience in capital markets and mergers.
If the acquisition closes, HUB would be making a bet that cybersecurity credibility and critical minerals demand can be packaged into a single story. The next months will show whether investors and regulators buy the logic, and whether Tivani can move from permits and plans to steady production.
