Vancouver, BC, Canada, September 26, 2024 - SkyChain Technologies Inc. (NEX: SCT.H) (the "Company") wishes to provide additional updates on its annual and general special meeting of the shareholders and its communication with Small Minority Dissidents (as defined in the Company’s news release dated September 16, 2024 (the “September 16 News Release”)).
The Company advised the counsel for Small Minority Dissidents that their attempt to requisition a shareholders meeting (the “Failed Effort”) is not compliant with corporate law and therefore is invalid and any proposed meeting of shareholders resulting from the Failed Effort is void. The Company also required the Small Minority Dissidents to issue a news release acknowledging that the Failed Effort was invalid to avoid causing confusion to the public. So far, they have either failed or are unwilling to do so, creating unnecessary issues for our shareholders.
Accordingly, the Company wishes to reiterate that the shareholder meeting requisitioned by the Small Minority Dissidents purported to be held on October 10, 2024 in their Failed Effort will not take place and results from that meeting, if any, will have no force and effect at law.
The Company has properly called an annual and general special meeting of the shareholders to be held on November 7, 2024 (the “Meeting”) with a record date of October 3, 2024. The Company has received an advance notice (the “Advance Notice”) from the Small Minority Dissidents seeking to nominate certain candidates for election as directors at the Meeting (effectively confirming that the Small Minority Dissidents acknowledge that the Meeting is valid and the Failed Effort is not). However, like the Failed Effort, the Advance Notice was also not compliant with corporate law and is invalid. The Company has communicated with the Small Minority Dissidents so they can rectify the deficiencies should they choose to do so. More details for the Meeting will be provided in the management information circular (the “Circular”) to be delivered to the shareholders and filed on SEDAR+.
The Company also wishes to reiterate its caution in its September 16 News Release to all persons against participating in arrangements for the purchase and sale or future purchase and sale of common shares of the Company (the “Attempted Arrangements”) while the Company is subject to a cease trade order. Such Attempted Arrangements are prohibited under applicable securities law, and all persons engaged in such prohibited activities are subject to investigation and prosecution by securities regulatory authorities.
About Skychain Technologies Inc.
Skychain Technologies Inc. is a Vancouver based company providing crypto/data centre and NFT and valued added services. To learn more, visit skychaintechnologiesinc.com
ON BEHALF OF THE BOARD OF DIRECTORS
Don Gordon, President and CEO
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Contact: 604-688-5464
info@skychaintechnologiesinc.com
