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SkyChain (TSXV:SCT) signs LOI to establish joint venture for visual effects rendering services

Technology
TSXV:SCT
16 July 2021 08:45 (EDT)

SkyChain Technologies (SCT) has signed a Letter of Intent with The Embassy Visual Effects Inc., a visual effects studio in Vancouver, BC.

The companies will work together to develop and grow SkyRendering Technologies Inc., a separate joint venture established between SkyChain and Synergy Corp.

Under the joint venture, Embassy will help SkyRendering provide premier visual effects rendering services to the film and entertainment industry. Embassy will provide back-end technical support and personnel to the SkyRendering joint venture.

The non-binding LOI between SkyChain and Embassy outlines the principal conditions of the joint venture. The precise terms will be contained in a definitive agreement.

SkyChain Technologies is a Vancouver-based company providing Blockchain Infrastructure services and power solutions. Our vision is to become a leading player in crypto/data mining hosting by growing to 100Mw of crypto hosting capacity.

Skychain Technologies Inc. (SCT) opened trading at C$0.64 per share.

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