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Skychain Technologies Inc. announces the appointment of Frederick Jung to the Company's Board of Directors effective immediately. Mr. Jung will provide financial guidance to Skychain to continue the growth of its business operations.Mr. Jung 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. (TSXV: SCT) announces the appointment of Frederick Jung to the Company's Board of Directors (the "Board") effective immediately. Mr. Jung will provide financial guidance to Skychain to continue the growth of its business operations.

Mr. Jung 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.

About Skychain Technologies

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

ON BEHALF OF THE BOARD OF DIRECTORS

Bill Zhang

President and CEO

______________________________________________________________________

Contact: 604-688-5464
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.

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/80748

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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 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'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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