Skychain Clarifies Date for Annual and General Special Meeting: November 7, 2024

Rhea-AI Summary

SkyChain Technologies Inc. (TSXV: SCT.H) has clarified the date for its annual and general special meeting of shareholders, which will be held on November 7, 2024, with a record date of October 3, 2024. The company has declared that the attempt by Small Minority Dissidents to requisition a shareholders meeting for October 10, 2024, is invalid and non-compliant with corporate law. SkyChain has requested the Small Minority Dissidents to issue a news release acknowledging this invalidity to avoid public confusion.

Additionally, SkyChain has received an Advance Notice from the Small Minority Dissidents to nominate candidates for director election at the November 7 meeting. However, this notice was also found to be non-compliant with corporate law. The company has communicated with the dissidents to rectify these deficiencies. Further details about the meeting will be provided in the management information circular to be delivered to shareholders and filed on SEDAR+.

Vancouver, British Columbia--(Newsfile Corp. - September 26, 2024) - SkyChain Technologies Inc. (TSXV: SCT.H) (the "Company") wishes to provide additional updates on its annual and general special meeting of the shareholders and its communication with Small Minority Dissidents (as defined in the Company's news release dated September 16, 2024 (the "September 16 News Release")).

The Company advised the counsel for Small Minority Dissidents that their attempt to requisition a shareholders meeting (the "Failed Effort") is not compliant with corporate law and therefore is invalid and any proposed meeting of shareholders resulting from the Failed Effort is void. The Company also required the Small Minority Dissidents to issue a news release acknowledging that the Failed Effort was invalid to avoid causing confusion to the public. So far, they have either failed or are unwilling to do so, creating unnecessary issues for our shareholders.

Accordingly, the Company wishes to reiterate that the shareholder meeting requisitioned by the Small Minority Dissidents purported to be held on October 10, 2024 in their Failed Effort will not take place and results from that meeting, if any, will have no force and effect at law.

The Company has properly called an annual and general special meeting of the shareholders to be held on November 7, 2024 (the "Meeting") with a record date of October 3, 2024. The Company has received an advance notice (the "Advance Notice") from the Small Minority Dissidents seeking to nominate certain candidates for election as directors at the Meeting (effectively confirming that the Small Minority Dissidents acknowledge that the Meeting is valid and the Failed Effort is not). However, like the Failed Effort, the Advance Notice was also not compliant with corporate law and is invalid. The Company has communicated with the Small Minority Dissidents so they can rectify the deficiencies should they choose to do so. More details for the Meeting will be provided in the management information circular (the "Circular") to be delivered to the shareholders and filed on SEDAR+.

The Company also wishes to reiterate its caution in its September 16 News Release to all persons against participating in arrangements for the purchase and sale or future purchase and sale of common shares of the Company (the "Attempted Arrangements") while the Company is subject to a cease trade order. Such Attempted Arrangements are prohibited under applicable securities law, and all persons engaged in such prohibited activities are subject to investigation and prosecution by securities regulatory authorities.

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: 604-688-5464
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/224762

FAQ

When is SkyChain Technologies Inc. (SKTCF) holding its annual and general special meeting?

SkyChain Technologies Inc. (SKTCF) is holding its annual and general special meeting on November 7, 2024, with a record date of October 3, 2024.

What was the outcome of the Small Minority Dissidents' attempt to requisition a shareholders meeting for SkyChain Technologies (SKTCF)?

SkyChain Technologies (SKTCF) declared that the Small Minority Dissidents' attempt to requisition a shareholders meeting for October 10, 2024, was invalid and non-compliant with corporate law.

Has SkyChain Technologies (SKTCF) received any advance notices for director nominations?

Yes, SkyChain Technologies (SKTCF) received an Advance Notice from the Small Minority Dissidents to nominate candidates for director election at the November 7 meeting, but it was found to be non-compliant with corporate law.

What warning has SkyChain Technologies (SKTCF) issued regarding share transactions?

SkyChain Technologies (SKTCF) has cautioned against participating in arrangements for the purchase and sale of company shares while under a cease trade order, as such activities are prohibited under securities law.