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Vancouver, British Columbia–(Newsfile Corp. – January 5, 2021) – Skyledger Tech Corp. (CSE: SKYL) (the “Company” or “Skyledger“) is pleased to announce its intention to complete a non-brokered private placement consisting of (a) 1,334,000 common shares of the Company (the “Shares“) at a price of $0.15 per Share for proceeds of $200,100, and (b) 9,100,000 subscription receipts (the “Subscription Receipts“) at a price of $0.15 per Subscription Receipt for proceeds of $1,365,000, for total proceeds of $1,565,100 (collectively, the “Private Placement“). Each Subscription Receipt will be automatically exercised into one Share upon completion of the previously announced transaction pursuant to which the Company will acquire all of the issued and outstanding shares of Senoa Gold Corp., which holds certain mineral claims in the Yukon (the “Transaction“). For further details regarding the Transaction, see the Company’s news releases dated October 15, 2020, November 17, 2020 and December 2, 2020.

The proceeds from the sale of the Shares are expected to be used to cover working capital requirements in advance of completion of the Transaction. The proceeds from the sale of the Subscription Receipts will be held in escrow pending completion of the Transaction and, following completion of the Transaction, are expected to be used for exploration and related expenditures on the Yukon properties to be acquired, and for working capital purposes.

The Shares and the Subscription Receipts, including the Shares issuable upon automatic exercise of the Subscription Receipts, will be subject to statutory hold periods of four months and a day under Canadian securities laws.

Further Information

Investors are cautioned that any information released or received with respect to the Transaction, including in this news release, may not be complete and should not be relied upon.

Completion of the Transaction is subject to a number of conditions, including but not limited to, Canadian Securities Exchange (the “CSE“) and shareholder approval. Where applicable, the Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Transaction will be completed as proposed or at all.

The CSE has in no way passed upon the merits of the proposed Transaction and has neither approved nor disapproved the contents of this news release.

Trading in the common shares of the Company will remain halted pending the review of the proposed Transaction by the CSE.

The securities to be issued in connection with the Transaction, the Shares and the Subscription Receipts, including the Shares issuable upon automatic exercise of the Subscription Receipts, have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in Regulation S promulgated under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Skyledger Tech Corp.

Skyledger is a Bitcoin mining company that gives shareholders access to the potential price appreciation of Bitcoin. The Company currently owns ASIC S17 and S9 Rigs that are located in Gibsons, British Columbia.

On behalf of the Board of Directors
James Liang
Chief Executive Officer
(604) 681-0911

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking statements, including statements about the Company’s completion of the Transaction and the Private Placement as well as its future plans and intentions. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.

Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. Such factors include, among other things: risks and uncertainties relating to the Company’s ability to complete the proposed Transaction and the Private Placement; and other risks and uncertainties. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/71423

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