Skychain Technologies Inc. (TSXV: SCT) (OTCQB: SKTCF) (“Skychain” or the “Company”) announces that the Company cancels the non-brokered private placement at $0.60 per common share announced on November 16, 2021.
Concurrently the Company proposes to undertake a non-brokered private placement of common shares (the “Shares”) at a price of $0.42 per Share for gross proceeds of $2 million dollars (the “Private Placement”). The proceeds from the Private Placement will be used for general and administrative expenses and for the development of the Company’s Birtle, Manitoba and other projects. The Private Placement is subject to the approval of the TSX Venture Exchange. All securities issued pursuant to the Private Placement will be subject to a hold period of four months and one day.
About Skychain Technologies Inc.
Skychain Technologies Inc. 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
President and CEO
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.
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