Latest News
Skychain Closes Private Placement
Vancouver, British Columbia–(Newsfile Corp. – January 14, 2022) – Skychain Technologies Inc. (TSXV: SCT) (OTCQB: SKTCF) (“Skychain” or the “Company”) is pleased to announce that the Company has successfully completed its non-brokered private placement (the “Private Placement”) described in its news release on December 31, 2021.
Under the Private Placement the Company issued 2,757,475 common shares of the Company (the “Shares”) at a price of $0.42 per Share for gross proceeds of $1,158,140. The proceeds from the Private Placement will be used for general and administrative expenses and for current and new project evaluation and development. All securities issued pursuant to the Private Placement will be subject to a hold period of four months and one day.
Two directors and the spouse of a director of the Company (the “Insiders”) participated in the Private Placement and purchased a total of 210,595 Shares. As such, the Private Placement is a related party transaction as such term is defined in TSX Venture Exchange Policy 5.9 and Ontario Securities Commission Multilateral Instrument 61-101 (“MI61-101”).
The Private Placement is exempt from the requirements for a formal valuation set out in Section 5.4 of MI61-101 since the transaction is a distribution of securities for cash and neither the Company nor, to the knowledge of the Company after reasonable inquiry, any of the Insiders has knowledge of any material information concerning the Company or its securities that has not been generally publicly disclosed. The Private Placement has been approved by the Company’s disinterested directors. The Private Placement is exempt from the requirements in Section 5.7 of MI61- 101 for approval by its minority shareholders since the fair market value of the transaction is less than $2,500,000.
About Skychain Technologies Inc.
Skychain Technologies Inc. is a Vancouver based company providing Blockchain Infrastructure and valued added services. To learn more, visit skychaintechnologiesinc.com
ON BEHALF OF THE BOARD OF DIRECTORS
Dr. Richard Du
Chairman and Chief Executive Officer
______________________________________________________________________
Contact: 604-688-5464
[email protected]
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 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.
NOT FOR DISTRIBUTION TO US NEWS WIRE SERVICES OR FOR DISSEMINATON INTO THE USA
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/110130
Powered by WPeMatico
Latest News
eWTP Arabia Capital’s Technology Fund I Recognized as Top Performing VC Fund in the Preqin League Tables
RIYADH, Saudi Arabia, May 19, 2024 /PRNewswire/ — eWTP Arabia Capital Technology Fund I (“Techology Fund I”), managed by eWTP Arabia Capital (“eWTPA”), one of the leading private equity firms in the Middle East, was listed in the Preqin League Tables as the the fifth top-performing VC funds in the US$250 Million to US$499 Million category by net Internal Rate of Return (IRR) for vintages between 2015-2020.
“We’re delighted by the recognition of our Technology Fund I as a top-performing VC fund in our sector,” expressed Jessica Wong, Founder and Managing Partner of eWTPA. “This milestone underscores the commitment of our team and the robustness of our investment strategy. It also underscores the significant growth potential of the Middle East and North Africa market, particularly in Saudi Arabia, warranting attention. As a pivotal driver of technological advancement in the region, we’re steadfast in our mission to empower entrepreneurs and deliver value to our investors.”
“Being recognized by Preqin validates our hard work and dedication to supporting and actively contributing towards building the Saudi digital ecosystem,” said Jerry Li, Founder and Managing Partner of eWTPA. “As eWTPA continues to grow and expand its investment portfolio, it remains committed to fostering innovation and driving positive change in Saudi, the GCC and the global emerging markets ecosystem.”
eWTPA has demonstrated exceptional performance, solidifying its position among industry leaders. This recognition underscores eWTPA’s commitment to identifying high-potential market opportunities and generating returns for its investors.
The Preqin League Tables are regarded as a comprehensive and authoritative ranking system for private equity and venture capital performance. Preqin, a leading data provider in the alternative assets industry, compiles these league tables based on various performance metrics, including net Internal Rate of Return (IRR) and other key indicators.
eWTPA’s success reflects its strategic approach to investing high-growth sectors in the MENA region. The firm’s portfolio includes a diverse range of companies poised to make a significant impact on their respective industries.
Acting as a bridge between Asia and the Middle East, eWTPA’s Technology Fund I has achieved significant success since its inception in 2019. The Fund has invested in over 18 companies, several of which have successfully established themselves in KSA, like J&T Express, Raha, Sahm and COFE.
About eWTPA:
Founded in 2019, eWTP Arabia Capital is an investment firm based in Saudi Arabia and China. Backed by marquee regional and international Sovereign Wealth Funds, Institutional investors, and family offices, eWTPA helps create robust local digital ecosystems in the MENA region by partnering with market-leading international businesses and providing a gateway for these companies to establish a strong and sustainable presence in the region. To date, eWTPA has invested in over 18 companies, 13 of which have already established themselves successfully in KSA.
Media contact:
Haile Liao
+966 0530868568
[email protected]
Photo – https://mma.prnewswire.com/media/2416426/eWTP_Preqin.jpg
View original content:https://www.prnewswire.co.uk/news-releases/ewtp-arabia-capitals-technology-fund-i-recognized-as-top-performing-vc-fund-in-the-preqin-league-tables-302149554.html
Latest News
Revio, the young fintech winning over Old Mutual and MTN
Latest News
Basel Committee highlights rising risks from finance digitalisation in new report
The post Basel Committee highlights rising risks from finance digitalisation in new report appeared first on HIPTHER Alerts.
-
Latest News6 days ago
Newgen Recognized in the Gartner® Market Guide for Commercial Banking Cash Management and Trade Finance Solutions 2023 Report
-
Latest News7 days ago
Major Korean pension fund invests in carbon solutions with Stafford Capital Partners
-
Latest News6 days ago
Precisely Showcases Critical Role of Trusted Data in AI at the Gartner® Data & Analytics Summit in London
-
Latest News6 days ago
One United Properties posts a consolidated turnover of 84.3 million euros and a gross profit of 37 million euros in the first three months of 2024
-
Latest News4 days ago
B Lab UK research reveals UK public back change to company law to put people, the planet and profit on more equal footing
-
Latest News3 days ago
Bankart migrates payment processing to Diebold Nixdorf’s Vynamic Transaction Middleware
-
Latest News3 days ago
SANY Heavy Industry Reports 2023 Earnings: Overseas Revenue Soars to 60% of Core Business Amid Market Pressures, Signaling Strong Global Expansion
-
Latest News4 days ago
Unleash a Wave of Opportunities this May with Bybit