Blockchain
Skychain Secures Funding for 12 MW Crypto Hosting Facility in Birtle, Manitoba
Vancouver, British Columbia–(Newsfile Corp. – June 4, 2021) – Skychain Technologies Inc. (TSXV: SCT) (OTCQB: SKTCF) (the “Company”) announces that it has arranged and successfully closed on the first tranche of securities of a private placement (the “Offering“) with The9 Limited (the “The9“) (NASDAQ: NCTY), an industry leader in crypto mining services.
As previously announced by the Company on April 21, 2021 and May 13, 2021, the Company entered into a financing agreement with The9 pursuant to which The9 agreed to subscribe for $2,000,000 of transferable, convertible debentures (the “Debentures“), at a price of $0.85 per Debenture, and $2,000,000 of units (the “Units“), at a price of $0.76 per Unit, of the Company for an aggregate investment of $4 million dollars (the “Proceeds“). Each Unit is comprised of one common share (a “Share“) and one transferable, share purchase warrant (a “Warrant“), and each Warrant is exercisable into a common share (a “Warrant Share“) at a price of $1.22 per Warrant Share at any time up to the close of business on the third anniversary of the closing (the “Closing“) of the Offering. The Company plans to use the Proceeds to develop its 12 MW cryptocurrency hosting facility located in Birtle, Manitoba.
The Company has received approval from the TSX Venture Exchange (the “Exchange“) to close on the Offering to the extent that The9 has no more than a 9.9% interest in the Company. As a result, the Company has issued the Debentures and 1,620,951 Units to The9, giving The9 a 9.9% interest in the Company.
The issuance of the remainder of the Units comprising the Offering remain subject to receipt of Exchange approval. Because upon completion of the entire Offering The9 will be an Insider, the Exchange required The9 to file a Personal Information Form (the “PIF“) with the Exchange. While The9 has filed a PIF with the Exchange, the Company cannot complete the remainder of the Offering until the Exchange has cleared the PIF. The9 has deposited $768,077.24 into trust pending the Company’s receipt of Exchange approval to complete the remainder of the Offering. The Shares and Warrants comprising the Units are subject to a hold period expiring on October 4, 2021.
As provided in the subscription agreements entered into between the Company and The9 concerning the subscriptions for both the Units and the Debentures, the holder of the Warrants and/or the Debentures cannot exercise or convert its Warrants or Debentures, as the case may be, if such exercise or conversion will result in the holder becoming an Insider or a Control Person of the Company until such time as the holder has cleared a Personal Information Form with the Exchange or the Company’s shareholders have approved the creation of the holder as a new Control Person of the Company, as the case may be.
“The closing of this financing is a significant milestone in our Company’s growth strategy,” said SkyChain’s CEO Bill Zhang. “It is a great opportunity for us to meet the rapidly increasing market demand for crypto hosting services by bringing the Birtle facility into operation.”
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 100 MW 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 DISSEMINATION 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.
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