Skychain’s Proposed Private Placement

 Skychain Technologies Inc. (TSXV: SCT) (OTCQB: SKTCF) (“Skychain” or the “Company”) announces that the Company proposes to undertake a non-brokered private placement (the “Private Placement“) of up to 342,857 units (the “Units“) at a price of $0.70 per Unit for gross proceeds of up to $240,000 if the entire Private Placement is sold. Each Unit will consist of one common share and one non-transferrable share purchase warrant (a “Warrant“). Each Warrant will entitle the holder to purchase an additional common share (a “Warrant Share“) of the Company at a price of $1.20 per Warrant Share for a period of one year from the date of issuance of the Units. The proceeds from the Private Placement will be used for working capital.

The Private Placement is subject to the approval of the TSX Venture Exchange. Securities issued pursuant to the Private Placement will be subject to a hold period of four months and one day. Securities issued to certain employees of the Company pursuant to the Private Placement will be subject to an additional hold period for a total of 12 months and one day.

The Company has cancelled and withdrawn the private placement offering at a price of $0.64 per Unit for gross proceeds of up to $300,000 which was announced in the June 22, 2021 news release.

About Skychain Technologies

Skychain Technologies is a Vancouver based company providing Blockchain Infrastructure services and power solutions. To learn more, visit www.skychaintechnologiesinc.com.

ON BEHALF OF THE BOARD OF DIRECTORS

Bill Zhang
President and CEO

bill@skychaintechnologiesinc.com

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.

Source

Click here to connect with  Skychain Technologies Inc. (TSXV: SCT) (OTCQB: SKTCF) to receive an Investor Presentation.