Vancouver, BC, Canada, July 7, 2021 – Skychain Technologies Inc. (TSXV-SCT) is pleased to announce that it has signed an agreement (the “Agreement”) with Synergy Global Consulting Corp. (“Synergy”) and 1283230 B.C. Ltd (“128”) to establish a joint venture company Skyrendering Technologies Inc. (“Skyrendering”) to provide premier visual effects (VFX) rendering services to the film and entertainment industry.
Under the terms of the Agreement, both Skychain and 128 will purchase 600,000 common shares in the capital of Skyrendering at a price of $1 per share. 128 will contribute cash to Skyrendering while Skychain shall contribute GPU/CPU servers and other equipment to Skyrendering. Bill Zhang, Skychain’s CEO, shall be appointed president and chief executive officer of Skyrendering, and Skychain shall appoint a majority of the members of Skyrendering’s board of directors.
128 and Synergy will provide certain “know-how” and contacts with studios, while Skychain brings technology and management services to the venture.
Skyrendering expects to conduct its business from a rendering farm and data center located in the province of British Columbia, Canada. Though currently in preparation phase, Skyrendering anticipates that it will have its rendering business up and running by August 2021.
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 President and CEO