Skychain Technologies Inc. announced that pursuant to a civil claim made by The9 Limited in connection with the Company's incomplete project in Birtle, Manitoba, the Company was declared in default of its debenture with The 9. The9 filed in British Columbia Supreme Court on September 15, 2022 for summary judgement to force repayment through the available creditor remedies. A decision of the court is expected on September 20, 2022. The9 has filed a lawsuit against the Company and its wholly-owned subsidiary Miningsky Technologies (Manitoba) Ltd. ("MTMI") claiming a breach of the conditions attached to the Debentures and demanded the Company repay The9 for the full amount of the Debentures plus accrued interest thereon.

The Company also announces the resignation of Donald Gordon as Interim CEO and as a Director of the Company and its Subsidiaries Miningsky Technologies Inc. and Miningsky Technologies (Manitoba) Ltd.