UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of April 2021
Commission File Number: 001-34238
THE9 LIMITED
17 Floor, No. 130 Wu Song Road
Hong Kou District, Shanghai 200080
People’s Republic of China
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F x Form 40-F ¨
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):________________
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):________________
EXHIBIT INDEX
| Exhibit No. | Description | |
| 99.1 | The9 Signed a Legally Binding Term Sheet on an Investment in Skychain Technologies Inc. for Constructing Mining Facilities in Canada |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| THE9 LIMITED | |||
| By | : |
/s/ George Lai |
|
| Name: | : | George Lai | |
| Title: | : | Director and Chief Financial Officer | |
Date: April 26, 2021
Exhibit 99.1
The9 Signed a Legally Binding Term Sheet on an Investment in Skychain Technologies Inc. for Constructing Mining Facilities in Canada
Shanghai,
China, April 21, 2021
The9 Limited (Nasdaq: NCTY) (“The9”), an established Internet company, today announced that it signed a legally binding term
sheet on a CAD4 million investment in Skychain Technologies Inc. (“Skychain”), a company listed in TSX Venture Exchange in
Canada. The purpose of the investment is for the construction and operation of a 12 MW cryptocurrency mining facility located in Birtle,
Manitoba, Canada. The9 plans to deploy its cryptocurrency mining machines in this mining facility upon completion of the construction.
According to the term sheet, the investment consists of a convertible note of CAD2 million, which will mature in four years and can be extended for an additional one year at the discretion of The9, and a private placement of CAD2 million (the “Private Placement”). Each unit of the Private Placement consists of one common share and one share purchase warrant that entitles The9 to purchase an additional common share of Skychain for an exercise term of three years.
The completion of the transaction is expected to be within one month, subject to due diligence and customary closing conditions.
The9 is also actively seeking for worldwide mining facilities with low electricity cost and in compliance with local rules and regulations, for the deployment of The9’s cryptocurrency mining machines.
About Skychain Technologies Inc.
Skychain Technologies is a Vancouver based company providing Blockchain Infrastructure services and power solutions. Our vision is to
become a leading player in the crypto/data mining hosting by growing to 100MW of crypto hosting capacity. To learn more, visit www.skychaintechnologiesinc.com.
About The9 Limited
The9 Limited (The9) is an Internet company based in China listed on Nasdaq in 2004. The9 aims to become a diversified high-tech Internet company.
For further information, please contact:
Ms. Connie Sun
Investor Relations Specialist
The9 Limited
Tel: +86-21-6108-6080
Email: IR@corp.the9.com
Website: https://www.the9.com/en