Vancouver, BC, Canada, Septembre 22, 2022 – SkyChain Technologies Inc. (TSX.V-SCT) (OTCQB-SKTCF) (the “Company”) advises that pursuant to a civil claim made by The9 Limited (“The9”), the Company was declared in default of the terms and conditions attached to the Debentures issued to The9. The9 had its claim heard in British Columbia Supreme Court on September 15, 2022 for summary judgement to force repayment through the available creditor remedies.
On September 20, 2022, the BC Supreme Court rendered its decisions. The9 was awarded judgment against the Company in the amount of $2,006,800 ($2 million plus interest inclusive to July 6, 2022) and $4,164.04 as prejudgment interest (from July 7, 2022 to September 20, 2022). The Court rejected The9’s request to appoint a receiver.
The Company also announces that Tang Tang has resigned from the board of directors of the Company. The Company wishes to thank Ms. Tang for her contributions to the Company.
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
Chairperson of the Board
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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.