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Skychain Technologies Inc. announced today that it has entered into an agreement with Synergy Global Consulting Corp. to establish a joint venture company to provide premier visual effects rendering services to the film and entertainment industry."We are pleased to announce this new joint venture for VFX Rendering Technologies Inc., and adding another platform to our services as we continue to deliver on our ...

 Skychain Technologies Inc. (TSXV: SCT) announced today that it has entered into an agreement with Synergy Global Consulting Corp. to establish a joint venture company to provide premier visual effects (VFX) rendering services to the film and entertainment industry.

"We are pleased to announce this new joint venture for VFX Rendering Technologies Inc., and adding another platform to our services as we continue to deliver on our commitment of becoming a full-service IAAS (Infrastructure as a Service) provider in 2021," said SkyChain CEO Bill Zhang.

Under the terms of the agreement, the total of $800,000 investment will be in equity stake of the joint venture company. The $800,000 investment will be comprised of $400,000 from SkyChain and another $400,000 Canadian Dollars from an investment company. SkyChain will have the right to appoint three out of the six members of the joint venture's board. The long-term investment in the next project phase will be approximately over 1.5 million Canadian dollars.

SkyChain and Synergy are expecting to sign a final agreement by the end of April 2021, and are projecting to have the business up and running for service by August 20th, 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


Contact: 604-456-0608
info@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.

NOT FOR DISTRIBUTION TO US NEWS WIRE SERVICES OR FOR DISSEMINATION INTO THE USA

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/80356

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Skychain Technologies

Skychain Technologies

Overview

Blockchain technology is the backbone of cryptocurrencies. This secure ledger system has laid the foundation for the exponential growth of Bitcoin, Ethereum and other recognized cryptocurrencies. Even traditional sectors are exploring the transformative impact and reliable security blockchain technology has to offer. Market research forecasts worldwide spending on blockchain solutions to grow to an estimated US$15.8 billion by 2023.

All of these operations require networks of decentralized computers to record transactions and archive information. With the growing need for these data centers, investors and companies big and small are turning to data centers and equipment providers to ensure they have the infrastructure needed to succeed in the cryptocurrency and data mining space.

SkyChain Technologies (TSXV:SCT,OTCQB: SKTCF) is a Vancouver-based company providing data infrastructure services and power solutions. The company operates Internet Data Centers that host mining computers, known as ASIC miners or GPUs. Although not a direct cryptocurrency mining company, SkyChain provides full-service hosting and real estate through its wholly owned subsidiary data centers.

Businesses and data mining operations are in increasing need of powerful technologies to support their work. SkyChain works to provide the necessary infrastructure to host these businesses and connect these blocks and technologies to our daily lives. This symbiotic relationship could become more normalized as essential services continue to transition to online-first models.

SkyChain’s Sherbrooke Crypto Hosting Facility is a data center located in Quebec. This 48,000 square foot asset currently generates C$12 million in annual revenues. Additionally, strategic positioning in Quebec allows SkyChain to leverage low provincial electricity prices, potential facility expandability and maximized optimization.

skychain image 1

In February 2021, SkyChain Technologies announced preparation to expand its data center services to include edge computing data centers, which would allow for high data applications such as cloud gaming and film rendering.

“Skychain’s deep experience in cryptocurrency mining has resulted in the development of our own unique high-speed equipment, venues and energy solutions suited perfectly to edge computing,” Skychain CEO Bill Zhang stated.

Additionally, the company intends on opening a promising new location in Manitoba in 2021. The site takes advantage of the cheap provincial electricity prices and 12MW facility permits that SkyChain already has in place.

Miningsky Technology Ltd, 100 percent owned by SkyChain Technologies Inc, would be the company’s next major large scale GPU miner and miner hosting solution provider in Manitoba. The all-in cryptocurrency and data mining hosting service provider would offer an electric power supply, regular maintenance of mining machines and mining performance monitoring.

The company’s primary focus is to become a leading player in the crypto and data mining hosting space. Since 2018, the company has conducted significant research and development to reduce costs from C$500,000 per megawatt to C$150,000 per megawatt. Skychain intends on growing to 100Mw of crypto hosting capacity in the future.

SkyChain’s Company Highlights

  • SkyChain Technologies operates state-of-the-art internet data centers that host ASIC miners and GPUs.
  • Currently provides full-service hosting and real estate through its wholly owned subsidiary data centers.
  • The company’s subsidiary data center in Sherbrooke, Quebec currently generates C$12 million in annual revenues.
  • SkyChain’s expertly engineered data centers and full-service mining equipment delivery strategically position the company for expansion into edge computing for high-performance, large data markets..
  • SkyChain Technologies wholly owns Miningsky Technology Ltd, which performs research and development of miningsky equipment.
  • Recently entered into an agreement with Synergy Global Consulting Corp. to establish a joint venture company Skyrendering Technologies Inc. to provide premier visual effects (VFX) rendering services to the film and entertainment industry.

SkyChain’s Key Subsidiaries

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Sherbrooke Crypto Hosting Facility

SkyChain’s Sherbrooke Crypto Hosting Facility is a 48,000 square foot facility in Quebec. Constructed in 2018, the asset is currently operating at 70 percent capacity, with a target to reach 100 percent in the early months of 2021. The facility leverages Quebec’s excellent infrastructure and cheap electricity prices, offering 7 cents per kilowatt hosting services fees.

Internal operations host professionally designed ventilation through negative pressure shedding fans as well as a SCADA load shedding system, overnight security and 20 megawatt power consumption.

SkyChain’s collection of high-speed equipment and energy solutions primes the company for expansion into edge computing for high-performance data services. Likewise, the company’s state-of-the-art facilities strategically position the company to access new revenue sources with minimal upgrade and potential scalability costs. It hosts 5,000 miners and counting in current operations.

Miningsky Technology Ltd. — Manitoba Hosting Location

SkyChain’s prospective 12 megawatt Manitoba crypto hosting site is expected to open in 2021. Miningsky Technology Ltd. is 100 percent owned by SkyChain and provides the company with the potential for research and development, lab testing for new industries, and new revenue sources with Miningsky’s power and energy equipment.

Manitoba is an exciting jurisdiction to operate out of for Miningsky due to the cheap electricity and cold weather. SkyChain presently has all permits in place and has completed its due diligence in Manitoba with electricity costs of C$0.0467. Miningsky has fully customized and stabilized high-performance GPU miners, reliable miner hosting and energy solutions and rapid deployment with scalability.

SkyChain’s Management Team

Bill Zhang — President, CEO & Director

Bill Zhang is the architect behind Miningsky. He is the visionary that keeps Miningsky moving forward. With decades of comprehensive IT and Cloud computing experience, Zhang possesses an extensive network of working relationships that place Miningsky in a leading position in the rapidly evolving crypto industry.

Don Gordon — CFO & Director

Don Gordon has over 30 years of experience in the corporate financial analysis and business development sectors. He is currently self-employed as DAG Consulting Corp’s an independent corporate finance and due diligence consultant. Gordon is active in corporate and professional associations, involving liaison with institutional investors and fund managers. In the past 10 years, DAG Consulting has been instrumental in listing and financing over 30 public companies.

Xi (Walson) Wang — Director

Xi Wang has over 15 years of experience in management roles and has developed a broad skill set, including overseeing business operations, negotiating with vendors, developing lasting business relationships and achieving sales and revenue goals. Wang has been the president of It Asset Partners Inc. since 2013 and has designed a custom enterprise resource planning system, which helped to improve the flexibility and efficiency of operation. He led the cloud server management team and played a vital role in forging relationships and obtaining contracts with Lenovo, Nintendo, Acer, Avnet, Sprint and Time Warner Cable.

Tang Tang — Director

Tang Tang brings eight years of marketing and financial experience to SkyChain Technologies, providing innovative counsel on current technology trends. She obtained her Bachelor’s degree in Commerce from Peter B. Gustavson School of Business, University of Victoria.

Frederick Jung — Director

Mr. Jung will provide financial guidance to Skychain to continue the growth of its business operations. He is currently the Chief Financial Officer of Solar Flow-Through Funds. Mr. Jung’s extensive in corporate finance and strategic planning will be an invaluable contribution to Skychain Technologies Inc.

Kym Anthony — Advisor, Financial and Capital Markets

Mr. Anthony provides Skychain with extensive experience in financial markets. His career of more than 30 years includes roles as Chairman and CEO of TD Securities, Vice-Chair of Toronto Dominion Bank and President and CEO of National Bank Financial. Mr. Anthony also gained investment banking experience with CIBC/Wood Gundy and the Investment Dealers Association of Canada.

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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 Closes Private Placement

Skychain Closes Private Placement

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 Announces $2,000,000 Private Placement and new Director & CEO Appointed

SkyChain Announces $2,000,000 Private Placement and new Director & CEO Appointed

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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11am pst

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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11am pst

Skychain's Share Issuance for Past Services

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.

Certain directors, officers, insiders and control persons of the Company participated in the Offering and, as such, the Offering is a related party transaction as such term is defined in TSX Venture Exchange Policy 5.9 and Ontario Securities Commission Multilateral Instrument 61-101 ("MI61-101"). Ningtao Bill Zhang, Donald Gordon, and John Lee all participated in the Offering.

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