Skychain Signed an Offer to Purchase a Property in Manitoba for Crypto Hosting Facility

Vancouver, British Columbia--(Newsfile Corp. - July 23, 2021) - Skychain Technologies Inc. (TSXV: SCT) (OTCQB: SKTCF) (the "Company") announces that the Company has entered into an arm's-length agreement to purchase real estate in the province of Manitoba in cash. The Company intends to develop a crypto mining site of approximately 22MW capacity on the property.

Closing of the acquisition remains subject to successful due diligence of the site and the satisfaction of various conditions to closing, as well as the approval of the TSX Venture Exchange. The Company and the vendors are presently working through the due diligence process.

About Skychain Technologies Inc.

Skychain Technologies Inc. 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
[email protected]

Neither the TSX Venture Exchange, OTCQB 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/91032