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Vancouver, BC, Canada, December 31, 2021 – Skychain Technologies Inc. (TSX.V - SCT) (OTCQB - SKTCF) (“Skychain” or the “Company”) is pleased to announce a non-brokered private placement (the “Private Placement”) of common shares (the “Shares”) at a price of $0.42 per Share for gross proceeds of up to $1,10,000. The proceeds from the Private Placement will be used for general and administrative expenses and for current and new project evaluation and development. The Private Placement is subject to the approval of the TSX Venture Exchange. All securities issued pursuant to the Private Placement will be subject to a hold period of four months and one day.
The Company also announces that the board has approved the grant to its directors and a consultant of the Company, pursuant to the terms of the Company's stock option plan, a total of 1,100,000 stock options. Each such stock option entitles the holder to purchase one common share of the Company at a price of CAD $0.35 for a period of five years. The options are not transferrable.
In addition, the Company is pleased to announce the appointment of Dr. Ken Wang to the Company’s advisory board. Dr. Wang is a former Managing Director and the Head of Natural Resources for both Royal Bank of Canada's Asia Investment Banking and Bank of China's Global Investment Banking operations based out of Hong Kong and Beijing. Dr. Wang also has held board and senior management positions with multiple public companies contributing to the successful completion of numerous transactions exceeding $50 billion in total value. Dr. Wang earned his Bachelor and Master of Science degrees from Peking University and his PhD in Geology with distinction from University of Alberta.
About Skychain Technologies Inc.
Skychain Technologies Inc. is a Vancouver based company providing Blockchain Infrastructure and valued added services. To learn more, visit www.skychaintechnologies.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Dr. Richard Du
Chairman of the Board of Directors
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this release.
Statements in this news release may be viewed as forward-looking statements. Such statements involve risks and uncertainties that could cause actual results to differ materially from those projected. There are no assurances the company can fulfill such forward-looking statements and the company undertakes no obligation to update such statements. Such forward-looking statements are only predictions; actual events or results may differ materially as a result of risks facing the company, some of which are beyond the company’s control.