Vancouver, British Columbia--(Newsfile Corp. - March 28, 2026) - Skychain Technologies Inc. (TSXV: SCT.H) (the "Company" or "Skychain") provides a further update regarding its financial position, asset status, and the ongoing transition to the board of directors appointed pursuant to the order of the Supreme Court of British Columbia dated January 15, 2026.
As previously disclosed, the Company has encountered significant difficulties in obtaining corporate records, financial information, operational data, and physical assets from prior management. To date, the Company has received only limited physical records, consisting primarily of paper documents from approximately 2018 to 2021, and has not obtained access to electronic systems, data, or complete corporate records for the period from 2022 to 2026.
Based on the information currently available, the Company has identified approximately $230,000 CAD in known outstanding liabilities, including amounts relating to legal fees, office rent, professional services, exchange fees, and storage costs. A significant portion of these amounts relates to an invoice submitted by a former officer of the Company during their period of service. The Company notes that additional liabilities may exist, as complete financial records have not yet been obtained.
The Company's bank account at BMO currently has a balance of approximately $7.27 CAD. The board was able to identify and regain access to this account through direct communication with the financial institution. The Company is continuing efforts to obtain access to other banking accounts, including accounts previously maintained at TD Bank, for which access has not yet been obtained.
Historically, the Company maintained significant cash balances and operated with physical equipment and infrastructure. However, based on the information currently available, the Company has not been able to locate any material assets. This includes equipment associated with the Company's Birtle, Manitoba project, which was previously acquired at a value in the millions of dollars and has not been located to date.
Due to the absence of records, the Company is not currently able to determine how corporate funds were used or how assets were transferred, disposed of, or otherwise dealt with during the period from 2022 to 2026.
Due to the lack of a proper transfer of Company records, the current board is still in the dark about the Company's past operations and assets. We are actively seeking information about Skychain and its subsidiaries from investors, former employees, and any other parties who may be able to help.
As previously disclosed, the Company is also subject to a potential delisting process initiated by the TSX Venture Exchange. The Company is not currently in a position to provide a substantive response, as it does not have sufficient access to corporate records, financial data, or operational information.
The board of directors is continuing to assess next steps to obtain access to Company records and information and to determine the status of corporate assets. This may include potential actions to recover assets or information; however, such actions may involve significant cost, and the Company's current financial position may limit its ability to pursue these actions.
The Company confirms that the above information has been provided to the current board of directors as well as to individuals who previously served as directors of the Company. The Company will continue to provide updates to shareholders 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@gmail.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/290350
Source: Skychain Technologies Inc.
