Vancouver, BC, Canada, December 23, 2021 – SkyChain Technologies Inc.(TSXV-SCT) (OTCQBSKTCF) (the “Company”) is pleased to announce the appointment of Dr Weichong (Richard）Du to Director and Chairman of the Board of the Company and appointment as CEO. Mr. Bill Zhang has stepped down as CEO of the Company and remains a Director of the Company and CEO of the operating subsidiaries: MiningSky Technology Ltd. , MiningSky Technologies (Manitoba) Inc., and Skyrendering Technologies Inc.
Concurrent with the appointment a company controlled by Dr. Richard Du has entered into a private placement of 4,761,905 shares at a price of $.42 per share for total proceeds of $2,000,000. Funds from the placement will be used for general corporate purposes and contribute to development of the company’s existing projects and new business opportunities.
Dr. Richard Du received his PhD degree in electronics engineering from Zhejiang University in 1991, and is a proven entrepreneur and financier as founder of several successful hi-tech companies spanning Silicon Valley, USA, Vancouver, Canada and Guangdong, China. The Company anticipates it will benefit greatly from Dr. Du’s business acumen and technology expertise, as he holds several core patents (and proprietary research) in the fields of fiber laser, digital lithography, and molecular layer assembly.
Final closing of the Private Placement is subject to TSXV acceptance, at which time the closing will be announced.
About SkyChain Technologies INC
SkyChain Technologies is a Vancouver based company providing Blockchain Infrastructure services and power solutions. Our vision is to become a leading player in the crypto/data mining hosting by growing to 100MW of crypto hosting capacity. To learn more, visit www.skychaintechnologiesinc.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Bill Zhang
Director
______________________________________________________________________
info@skychaintechnologiesinc.com
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