Vancouver, British Columbia--(Newsfile Corp. - October 24, 2024) - SkyChain Technologies Inc. (TSXV: SCT.H) (the "Company") wishes to address the proxy solicitation by 1154557 B.C. Ltd. (the "Purported Concerned Shareholder"), which mailed out its yellow proxies and dissident proxy circular dated October 10, 2024 (the "Dissident Circular") to the Company's shareholders and created further confusion for the Company's annual and general special meeting of the shareholders to be held on November 7, 2024 (the "Meeting").
The Company has previously adopted advance notice requirements for nomination of directors that are binding on all shareholders of the Company. The Company advised the Purported Concerned Shareholder that the advance notice submitted by it was not compliant with corporate law and is invalid. The Purported Concerned Shareholder never responded to address the deficiencies. As such, the issuance of the Dissident Circular is meritless because the nominations have not been properly made in accordance with the Company's articles.
The Purported Concerned Shareholder has circulated materials that have no force and effect. The Company's articles provide strict requirements by which shareholders can nominate directors and the Purported Concerned Shareholder and those working jointly and in concert with it have yet again failed to comply with those rules, notwithstanding efforts by the Company to seek their compliance. It is regrettable that the Purported Concerned Shareholder has chosen to ignore basic legal requirements and to further engage in a strategy of deliberately misleading and confusing shareholders.
In conclusion, the Dissident Circular mailed out by the Purported Concerned Shareholder is of no effect and the yellow proxy has no effect. Only the Company's white proxy can be voted at the Meeting. We encourage all shareholders to vote their white proxy at their earliest opportunity to ensure that their vote is counted at the Meeting.
About Skychain Technologies Inc.
Skychain Technologies Inc. is a Vancouver based company providing crypto/data centre and NFT and valued added services. To learn more, visit skychaintechnologiesinc.com
ON BEHALF OF THE BOARD OF DIRECTORS
Don Gordon, President and CEO
______________________________________________________________________
Contact: 604 - 617-7221
info@skychaintechnologiesinc.com
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 or 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/227771
SOURCE: Skychain Technologies Inc.
