Bitcoin

Skychain Technologies (TSXV: SCT), a Vancouver-based company providing blockchain infrastructure services and power solutions through its 100% owned Miningsky Technology subsidiary, has added a warrant to its current non-brokered private placement. The company is now raising gross proceeds of up to $1,250,000 from the placement of up to 1,315,800 units priced at $0.95 per unit. Each unit consists of one share and one full warrant, with the warrant exercisable at $1.50 for 24 months.


For more information, please view the InvestmentPitch Media "video" which provides additional information about this news and the company. If this link is not enabled, please visit www.InvestmentPitch.com and enter "SkyChain" in the search box.

The proceeds will be used towards the acquisition and upgrade of an additional crypto mining hosting facility in Sherbrooke, Quebec, which was previously announced on January 6, 2021. The 20 Mw crypto mining hosting facility in Sherbrooke is currently running at about 70% or 14Mw capacity and covers 40,000 square feet with significant expansion capacity. The 20Mw capacity can contribute a hashrate of 670 PH per second to blockchain, and the power capacity can be upgraded to 23Mw without further hardware investment.

Due mostly to clean, efficient hydropower, Quebec offers one of the lowest electricity costs in North America, and among the lowest in the world. The facility is also environmentally friendly as hydro is a renewable energy source.

The Vendor has invested over $8 million to develop the facility. SkyChain has agreed to purchase the entire facility for total consideration of $3 million in cash and $2.5 million in shares at a deemed price of $0.50 per share for 5 million shares.

For more information about the company, please watch this recent video interview of Bill Zhang, President and CEO of Skychain by Ashton Addison of Investmentpitch Media. To access the video please (click here) or visit www.InvestmentPitch.com and enter Skychain in the search box.

For more information, please visit the company's website www.SkyChainTechnologiesInc.com, contact Bill Zhang, President and CEO, at 604-456-0608 or email info@SkyChainTechnologiesInc.com.

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/75205

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SkyChain Announces Director and Management Changes

SkyChain Announces Director and Management Changes

Skychain Technologies Inc. (TSXV: SCT) (OTCQB: SKTCF) ("Skychain" or the "Company") is pleased to announce that the Company has appointed new management at its subsidiary companies. Effective February 8, 2022,

  1. John Yang, Chief Strategy Officer of the Company has been appointed a director of Miningsky Technology Ltd. ("Miningsky"), Miningsky Technologies (Manitoba) Inc. ("Miningsky Manitoba") and Skyrendering Technologies Inc. ("Skyrendering"), as well as the President of Miningsky and Skyrendering; and

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Skychain Technologies Inc. (TSXV: SCT) (OTCQB: SKTCF) ("Skychain" or the "Company") is pleased to announce that the Company has successfully completed its non-brokered private placement (the "Private Placement") described in its news release on December 31, 2021.

Under the Private Placement the Company issued 2,757,475 common shares of the Company (the "Shares") at a price of $0.42 per Share for gross proceeds of $1,158,140. The proceeds from the Private Placement will be used for general and administrative expenses and for current and new project evaluation and development. All securities issued pursuant to the Private Placement will be subject to a hold period of four months and one day.

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Skychain Technologies Inc. (TSXV: SCT) (OTCQB: SKTCF) (the "Company") is pleased to announce the appointment of Dr. Weichong (Richard) Du to Director and Chairman of the Board of the Company and appointment as CEO. Mr. Bill Zhang has stepped down as CEO of the Company and remains a Director of the Company and CEO of the operating subsidiaries: MiningSky Technology Ltd., MiningSky Technologies (Manitoba) Inc., and Skyrendering Technologies Inc.

Concurrent with the appointment a company controlled by Dr. Richard Du has entered into a private placement of 4,761,905 shares at a price of $.42 per share for total proceeds of $2,000,000. Funds from the placement will be used for general corporate purposes and contribute to development of the company's existing projects and new business opportunities.

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SkyChain Signed Agreement to Secure Land and Power in Alberta for Crypto Hosting Facility

Skychain Technologies Inc. (TSXV: SCT) (OTCQB: SKTCF) (the "Company") is pleased to announce that the Company has signed a service agreement with Sunset Solar Inc.("Sunset") which is a private company incorporated under the laws of Alberta. Sunset has been engaged in the business of developing a solar farm since its inception in 2016 with access to land in Alberta (the "Land") and potential electricity for constructing a solar farm and cryptocurrency mining facilities.

Sunset is an Alberta registered company that has progressed in the permitting process to build a 57-megawatt (MW) alternating-current solar photovoltaic power plant. The project is proposed to consist of 216,756 fixed-mount photovoltaic solar panels, an underground network of electrical collector lines, and a collector substation located one kilometre southwest of the hamlet of Grassy Lake Alberta occupying 10 acres. The use of solar power combined with conventional power sources on the 10 acres site will add an emission free energy source for its data centre.

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Skychain Technologies Inc. (TSXV: SCT) (OTCQB: SKTCF) (the "Company") announces that the board has approved the issuance of up to 290,000 common shares (the "Shares") at a deemed price of $0.70 per share to settle CDN$203,000 in employment andor consulting fees that are earned by employees and consultants from the Company pursuant to existing engagement agreements. Shares for Past Services are subject to the approval of the TSX Venture Exchange (the "Exchange").

The Shares may be subject to a hold period of four months and one day from the date of issuance. Securities issued to certain consultants of the Company will be subject to an additional hold period for a total of 12 months.

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SkyChain Closes Its Private Placement

Skychain Technologies Inc. (TSXV: SCT) (OTCQB: SKTCF) ("SkyChain" or the "Company") is pleased to announce that it has successfully completed its private placement (the "Offering") described in its news release on August 15, 2021. Under the Offering, the Company issued 320,005 units (the "Units") at a price of CDN$0.70 per Unit for gross proceeds of $224,000. Each Unit consists of one common share in the capital of the Company (a "Share") and one whole non-transferable common share purchase warrant (a "Warrant"). Each whole Warrant is exercisable to acquire one Share at an exercise price of CDN$1.20 per Share until September 22, 2022 which is 1 year from the date of issuance.

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