Announces Closing of Private Placement FOR $1.6 Million
SKYLEDGER TECH CORP.
ANNOUNCES CLOSING OF PRIVATE PLACEMENT FOR $1.6 MILLION
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISEMMINATION IN THE
UNITED STATES
FOR IMMEDIATE RELEASE
January 20, 2021
VANCOUVER, CANADA – Skyledger Tech Corp. (the “Company” or “Skyledger”) (CSE: SKYL) is
pleased to announce it has completed a non-brokered private placement consisting of (a) 1,334,000 common
shares of the Company (the “Shares”) at a price of $0.15 per Share for proceeds of $200, 100, and (b)
9,542,667 subscription receipts (the “Subscription Receipts”) at a price of $0.15 per Subscription Receipt
for proceeds of $ $1,431,400, for aggregate proceeds of $ $1,631,500 (collectively, the “Private Placement”).
Each Subscription Receipt will be automatically exercised into one Share upon completion of the previously
announced transaction pursuant to which the Company will acquire all of the issued and outstanding shares
of Senoa Gold Corp. , which holds certain mineral claims in the Yukon (the “ Transaction”). For further
details regarding the Transaction, see the Company’s news releases dated October 15, 2020, November 17,
2020 and December 2, 2020.
The proceeds from the sale of the Shares are expected to be used to cover working capital requirements in
advance of completion of the Transaction. The proceeds from the sale of the Subscription Receipts will be
held in escrow pending completion of the Transaction and, following completion of the Transaction, are
expected to be used for exploration and related expenditures on the Yukon properties to be acquired an d
working capital purposes.
The Shares and the Subscription Receipts, including the Shares i ssuable upon automatic exercise of the
Subscription Receipts, are subject to a statutory hold period in Canada expiring four months and one day
from the closing date of the Private Placement, being May 21, 2021.
Further Information
Investors are cautioned that any information released or received with respect to the Transaction, including
in this news release, may not be complete and should not be relied upon.
Completion of the Transaction is subject to a number of conditions, including but not limited to, Canadian
Securities Exchange (the “CSE”) and shareholder approval. Where applicable, the Transaction cannot close
until the required shareholder approval is obtained. There can be no assurance that the Transaction will be
completed as proposed or at all.
The CSE has in no way passed upon the merits o f the proposed Transaction and has neither approved nor
disapproved the contents of this news release.
Trading in the common shares of the Company will remain halted pending the review of the proposed
Transaction by the CSE.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the
United States of America. The securities to be issued in connection with the Transaction , the Shares and
the Subscription Receipts , including the Shares issuable upon automatic exercise of the Subscription
Receipts, have not been and will not be registered under the United States Securities Act of 1933 , as
amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the
United States or to U.S. Persons (as defined in Regulation S promulgated under the U.S. Securities Act)
unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from
such registration is available.
About Skyledger Tech Corp.
Skyledger is a Bitcoin mining company that gives shareholders access to the potential price appreciation of
Bitcoin. The Company currently owns ASIC S17 and S9 Rigs that are located in Gibsons, British Columbia.
On behalf of the Board of Directors
James Liang
Chief Executive Officer
(604) 681-0911
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This news release contains certain forward-looking statements, including statements about the Company’s
completion of the Transaction and the Private Placement as well as its future plans and intentions. Wherever
possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”,
“believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar
words or phrases, have been used to identify these forward-looking statements. These statements reflect
management’s current beliefs and are based on information currently available to management as at the
date hereof.
Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could
cause actual results, performance or achievements to differ materially from the results discussed or implied
in the forward-looking statements. Such factors include, among other things: risks and uncertainties relating
to the Company’s ability to complete the proposed Transaction; and other risks and uncertainties. These
factors should be considered carefully and readers should not place undue reliance on the forward-looking
statements. Although the forward-looking statements contained in this news release are based upon what
management believes to be reasonable assumptions, the Company cannot assure readers that actual results
will be consistent with these forward-looking statements. These forward-looking statements are made as of
the date of this news release, and the Company assumes no obligation to update or revise them to reflect
new events or circumstances, except as required by law.