Blockchain
Skychain Announces Updates of Quebec Facility Acquisition
Vancouver, British Columbia–(Newsfile Corp. – May 31, 2021) – Skychain Technologies Inc. (TSXV: SCT) announces once more of the update in regards to the Quebec facility acquisition.
Sherbrooke Acquisition Clarification
Further to its news release dated May 21, 2021, the Company would like to clarify certain matters concerning the now terminated acquisition (the “Acquisition”) of all of the issued and outstanding common shares (the “Zhang Shares”) in the capital of 1151203 B.C. Ltd. (“115”). On December 23, 2020, the Company entered into an agreement (the “115 Agreement”) with 115 and Songhua Zhang (the “Vendor”) pursuant to which the Company agreed to purchase the Zhang Shares. One of the conditions in the 115 Agreement was that the Company make a cash payment of $1,500,000 to the Vendor within five days of closing of the transaction. As a condition to receiving TSX Venture Exchange (the “Exchange”) approval for the Acquisition, the Exchange required the Company to provide evidence that it either had the funds available to it or that the Company would be in a position to close a financing transaction concurrent with closing of the Acquisition. The Company was unable to satisfy this Exchange requirement.
In addition, the 115 Agreement provided the Vendor with a right to terminate the 115 Agreement if the Company did not obtain Exchange approval for the Acquisition within sixty (60) days of the date of the 115 Agreement. The Vendor had the right to terminate the 115 Agreement as of February 21, 2021. The Vendor has delivered written notice to the Company that it has terminated the 115 Agreement due to the Company’s failure to satisfy the Exchange’s Acquisition conditions within the stipulated time.
Sherbrooke Facility Lease
As also stated in the news release of May 21, 2021, the Company entered into a lease (the “Lease”) with 115, dated for reference February 14, 2018, pursuant to which the Company agreed to lease 39,323 square feet of land and building (the “Facility”) located in Sherbrooke, Quebec from 115. It is this Facility that was the subject matter of the 115 Agreement. Despite the termination of the 115 Agreement, the Lease remains in good standing.
The Lease runs for a term of five (5) years and two (2) months and expires on the last day of April 2023. In order to maintain the Lease in good standing, the Company agreed to pay 115 an annual base year rent of $275,261 (plus tax), calculated on the basis of $7 per square foot, payable monthly in advance at the rate of $22,938.42 (plus tax). Commencing May 1, 2019, and occurring annually, the rent shall increase by the greater of (i) the annual increase of the Consumer Price Index, or (ii) by a rate of 3% per annum.
The Company is permitted to use the Facility solely for the purposes of a data room and related activities. The Company is responsible for all operating costs, maintenance costs and insurance costs associated with the Facility.
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
[email protected]
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 DISSEMINATON INTO THE USA
Blockchain
UNICC and ShelterZoom Developed a Secure Document Tracking and E-Signature Solution for the UN System
The United Nations International Computing Center (UNICC) and ShelterZoom are pleased to announce a new innovative blockchain-based solution for controlling and protecting the digital data of UN entities and other international organizations. As the largest strategic partner for digital solutions and cybersecurity within the UN system, UNICC has partnered with ShelterZoom, a leading data and content protection and ownership SaaS company behind innovations such as Document Token® technology and Document GPS®.
Building upon the 50 years of experienced innovation from the UNICC, the two organizations collaborated on a transformational undertaking offering robust protection and promising increased productivity for document tracking and management. ShelterZoom will contribute its proprietary document tokenization technology, along with its data protection, document tracking and e-signature solutions to deliver a white-labeled platform, giving member organizations a greater level of governance over their content. Using ShelterZoom’s flagship proprietary Single Source Of Truth® technology, the solution provides a means for each file to be protected individually without changing user normal habits instead of having to rely solely on protecting files at the database level. This ‘singularity and control’ is a new era in cybersecurity and document management, which has never been seen before at this level of seamless integration with existing tools.
“The synergy between what we deliver and the goals of the United Nations are a perfect match for Single Source Of Truth,” said Chao Cheng-Shorland, CEO and Cofounder of ShelterZoom. “We have said from the beginning that it is time to think about cybersecurity in a completely new way and in doing so we have created a solution to address other operational pain points while simultaneously solving one of the biggest challenges facing the global population today. The UN is at the frontlines of changing the world for the better and its forward-thinking approach to using technology to address fundamental issues is critical in improving livelihoods for all.”
ShelterZoom solutions have already been in use across dozens of industries and with this new commercial partnership, they can now extend their usefulness to the UN family and other international organizations. The revolutionary method for complete document tracking with built-in productivity tools, such as digital signatures and a market-first method for organizing files inside email, is an all-in-one solution built for a global workforce. The Single Source of Truth model has the added benefit of decreasing the carbon footprint created by excessive digital waste, further supporting the sustainability goals of the United Nations.
“The need for robust cybersecurity and data protection has never been greater,” said Sameer Chauhan, Director of UNICC. “By working together with ShelterZoom, we have developed a cutting-edge tool tailored to the needs of the UN family. Our unwavering commitment to providing best-in-class solutions ensures we continue to support the digital transformation and modernization of the UN system and other international organizations.”
The post UNICC and ShelterZoom Developed a Secure Document Tracking and E-Signature Solution for the UN System appeared first on News, Events, Advertising Options.
Bybit
-
Blockchain5 days ago
50,000+ Mined Coins and 100,000 New Users: EMCD Summarizes 2024
-
Blockchain5 days agoBlocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
-
Blockchain Press Releases4 days agoBybit P2P Unlocks 20,000 USDT Prize Pools for Select Users in South Asia and Africa
-
Blockchain7 days agoBuilding Bridges in Crypto: Bybit Sparked Dialogues and Joined Industry Leaders at Bitcoin MENA
-
Blockchain Press Releases5 days agoFlipster Achieves ISO/IEC Certification
-
Blockchain Press Releases6 days agoDubai Police Team Triumphs at KuCoin Sponsored 2024 Dubai Open Gov Padel Cup
-
Blockchain Press Releases5 days ago
Bybit Lists LUNAI as AI Influencer Luna Makes Her Web3 Livestream Debut
-
Blockchain7 days ago
Blocks & Headlines: Today in Blockchain (Ethereum, Krown Technologies, Quantum Emotion, Golfin)
