Skyledger Tech Corp. Announces Private Placement of $1.5 Million
Skyledger Tech Corp. Announces Private
Placement of $1.5 Million
Vancouver, British Columbia--(Newsfile Corp. - January 5, 2021) - Skyledger Tech Corp. (CSE: SKYL)
(the "
Company
" or "
Skyledger
") is pleased to announce its intention to complete 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) 9,100,000 subscription receipts (the
"
Subscription Receipts
") at a price of $0.15 per Subscription Receipt for proceeds of $1,365,000, for
total proceeds of $1,565,100 (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, and for working capital purposes.
The Shares and the Subscription Receipts, including the Shares issuable upon automatic exercise of the
Subscription Receipts, will be subject to statutory hold periods of four months and a day under Canadian
securities laws.
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 of 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.
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 the Private
Placement; 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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/71423