Skychain Technologies Inc. Provides Governance and Corporate Records Update

Rhea-AI Summary

Skychain Technologies (OTC:SKTCF) announced a governance update following a court-ordered board transition on January 15, 2026. The newly constituted board located physical corporate records in a public storage room and found no functional office or confirmed possession of company-owned assets.

The board is reviewing historical financial statements, regulatory filings, and asset dispositions, and is working to secure financial accounts, data access, and reconstruct missing records. Further updates will follow as the review progresses.

Positive

• New board installed pursuant to Supreme Court order dated January 15, 2026
• Board initiating comprehensive review of records, assets, and filings

Negative

• No functional company office currently in operation
• Board lacks possession of confirmed company-owned electrical equipment
• No access credentials yet for historical banking, financial, and digital systems
• Found documents for unrelated entity 1151152 BC Ltd. in storage

Vancouver, British Columbia--(Newsfile Corp. - February 19, 2026) - Skychain Technologies Inc. (TSXV: SCT.H) (the "Company" or "Skychain") provides the following update regarding the transition to the newly constituted board of directors appointed pursuant to the order of the Supreme Court of British Columbia dated January 15, 2026.

The Company has discovered and received certain physical corporate records and materials that are stored in a public storage room. These materials consist primarily of paper records and archived corporate documents. The Company has no functional office in operation.

Among the materials received are documents relating to 1151152 BC Ltd., which is not a subsidiary of the Company. These documents do not appear to relate to the business or operations of the Company or its subsidiaries.

Based on a preliminary review, the current board has not been provided with possession of, or access to, any company-owned assets, including electrical equipment, and has not received documentation confirming their disposition.

The board has also not yet received any access credentials for certain historical banking, financial, and digital systems.

The board is conducting a comprehensive review to determine the current status of the Company's assets, records, financial position, and historical reporting. This review includes an assessment of the Company's historical financial statements, regulatory filings, and compliance with applicable securities laws. The board will take appropriate steps as necessary following completion of this review.

The board is actively taking steps to:

• Secure control over the Company's financial accounts and records

• Identify and confirm the location and status of corporate property and data

• Review historical transactions and asset dispositions

• Reconstruct, where necessary, financial information and records

The board's priority is to ensure proper governance, financial transparency, and compliance with applicable regulatory requirements. The Company will provide further updates as additional information becomes available.

About Skychain Technologies Inc.

Skychain Technologies Inc. is a public company listed on the TSX Venture Exchange NEX Board under the symbol SCT.H.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information, please contact:

John Lee
info@skychaintechnologiesinc.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/284586

FAQ

What did Skychain (SKTCF) disclose about corporate records on February 19, 2026?

Skychain said it located physical corporate records in a public storage room. According to the company, materials were primarily paper archives, some relating to an unrelated entity, and no functional office was found.

Does Skychain (SKTCF) currently have access to its financial accounts and systems?

The board reported it has not yet received all access credentials for historical accounts and systems. According to the company, securing control over financial accounts is an active priority during the review.

What actions is Skychain's new board taking after the January 15, 2026 order?

The board is conducting a comprehensive review of assets, records, and historical reporting. According to the company, steps include locating property, confirming account control, and reconstructing financial information where needed.

Did Skychain (SKTCF) find any unrelated company documents during the records search?

Yes — the board found documents related to 1151152 BC Ltd., which is not a Skychain subsidiary. According to the company, those documents do not appear related to Skychain's business or subsidiaries.

Will Skychain (SKTCF) provide further updates about the governance review?

Yes — the board said it will provide additional updates as information becomes available. According to the company, further disclosures will follow completion of the comprehensive review and any necessary next steps.