Vancouver, British Columbia – October 15, 2021 (Newsfile Corp.) (Investorideas.com Newswire) SkyChain Applied sciences Inc. (TSXV: SCT) (OTCQB: SKTCF) (the “Firm”) is happy to announce that the Firm has signed a service settlement with Sundown Photo voltaic Inc.(“Sundown”) which is a personal firm included underneath the legal guidelines of Alberta. Sundown has been engaged within the enterprise of growing a photo voltaic farm since its inception in 2016 with entry to land in Alberta (the “Land”) and potential electrical energy for establishing a photo voltaic farm and cryptocurrency mining services.
Sundown is an Alberta registered firm that has progressed within the allowing course of to construct a 57-megawatt (MW) alternating-current photo voltaic photovoltaic energy plant. The venture is proposed to encompass 216,756 fixed-mount photovoltaic photo voltaic panels, an underground community {of electrical} collector strains, and a collector substation positioned one kilometre southwest of the hamlet of Grassy Lake Alberta occupying 10 acres. Using solar energy mixed with standard energy sources on the ten acres website will add an emission free power supply for its knowledge centre.
Pursuant to the service SkyChain will proceed with all required permits and functions with participation by Sundown in all features of the venture. Remaining approval to the venture is topic to securing the land and power from the Alberta energy transmission authority.
Per the phrases of the service settlement, topic to profitable completion of the providers leading to securing the permits, approvals, with land and energy entry, SkyChain will present a fee of $1.68 million CAD in SkyChain frequent shares at $0.80 CAD per frequent share to Sundown.
The fee stays topic to profitable due diligence and the satisfaction of varied situations per the settlement, in addition to the approval of the TSX Enterprise Change (the “Change”). The Firm and Sundown are presently working by way of the due diligence course of.
About SkyChain Applied sciences INC
SkyChain Applied sciences is a Vancouver based mostly firm offering Blockchain Infrastructure providers and energy options. Our imaginative and prescient is to turn into a number one participant within the crypto/knowledge mining internet hosting by rising to 100MW of crypto internet hosting capability. To be taught extra, go to www.skychaintechnologiesinc.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Invoice Zhang
President and CEO
[email protected]
Neither the TSX Enterprise Change, nor its Regulation Providers Supplier (as that time period is outlined within the insurance policies of TSX Enterprise Change) accepts duty for the adequacy of accuracy of this launch.
Statements on this information launch could also be considered as forward-looking statements. Such statements contain dangers and uncertainties that might trigger precise outcomes to vary materially from these projected. There aren’t any assurances the corporate can fulfill such forward-looking statements and the corporate undertakes no obligation to replace such statements. Such forward-looking statements are solely predictions; precise occasions or outcomes might differ materially on account of dangers going through the corporate, a few of that are past the corporate’s management.
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