GREEN VALLEY MINE INCORPORATED
1100-1111 Melville St.
Vancouver, B.C. V6E3V6
Green Valley Completes Acquisition of Miningsky Technology Ltd. and
Closes Concurrent Financing
September 19, 2018 ‑ Vancouver, British Columbia. Green Valley Mine Incorporated (Green Valley) is pleased to announce that it has completed its acquisition of Miningsky Technology Ltd. (Miningsky). Pursuant to a share exchange agreement with Miningsky and shareholders of Miningsky dated September 10, 2018 (Share Exchange Agreement), Green Valley acquired from Miningsky’s shareholders 100% of the issued and outstanding Class A shares on a one-to-one basis. Each shareholder of Miningsky received one common share of Green Valley for each one Miningsky Class A share acquired by Green Valley. In the aggregate, Green Valley issued 4,181,132 common shares to the Miningsky Class A shareholders.
Miningsky is now a wholly owned subsidiary of Green Valley, and the business of Miningsky is the business of Green Valley. The Miningsky transaction constituted a change of business (COB), as defined under the policies of the TSX Venture Exchange (TSXV), and moving forward Green Valley will operate as a Tier 2 technology issuer. The business of Miningsky is described in detail in Green Valley’s filing statement dated August 24, 2018. In connection with Green Valley’s move into the crypto mining sector, Green Valley will change its name to Skychain Technologies Inc. to be effective on Tuesday, September 25, 2018. The common shares of Green Valley will commence trading on the TSXV as common shares of Skychain Technologies Inc. on September 25, 2018.
Green Valley is also pleased to announce that it has completed a non-brokered private placement concurrent with the closing of the Share Exchange Agreement by issuing 3,389,665 common shares at a price of $0.30 for aggregate gross proceeds of $1,016,899.50. At closing of the Share Exchange Agreement, Green Valley also completed the balance of a non-brokered private placement financing previously announced in news releases dated February 13, 2018 and August 29, 2018 using funds held in trust (In Trust private placement). The funding for the In Trust Private Placement is reflected in note 12 of Green Valley’s audited financial statements for the year ended March 31, 2018. Green Valley issued 4,313,168 common shares at a price of $0.30 for aggregate proceeds of $1,293,950 to complete the In Trust private placement. In connection with the concurrent private placement and the In Trust private placement, finder’s fees of 758,677 common shares (at a deemed price of $0.30 per share) were issued. All securities issued under the private placements, including the finder’s shares bear a hold period of four months and one day.
States Green Valley CEO Bill Zhang “We are pleased to have completed the process of acquiring Mining Sky Technology and look forward to trading under our new symbol ‘TSXV-SCT’ early next week. The opportunities that our business model creates should provide a strong future for our current and new shareholders”
ON BEHALF OF THE BOARD OF DIRECTORS
Per: “Bill Zhang”
President & Chief Executive Officer
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 of accuracy of this release.