Bluesky Digital Assets Corp., Announces Debt Settlement

Rhea-AI Summary

Bluesky Digital Assets Corp. has completed several debt settlement agreements, settling a total of $296,625.00 CAD of secured debt by issuing 5,932,500 Common Shares. The settlement will help preserve cash for working capital and advance AI endeavors. The Corporation now has minimal debt on its balance sheet.

Toronto, Ontario--(Newsfile Corp. - August 11, 2023) - Bluesky Digital Assets Corp., (CSE: BTC) (OTCQB: BTCWF), ("Bluesky" or the "Corporation") announced today that it had entered into, and that it had completed, several debt settlement agreements. The Corporation settled an aggregate of $296,625.00 CAD of secured debt owed to creditors via the issuance of an aggregate 5,932,500 Common Shares. The debt settlement will assist the Corporation in preserving its cash for working capital and to further advance its AI endeavors. With the completion of this debt settlement, the Corporation has a very minimal amount of debt on its balance sheet.

About Bluesky Digital Assets Corp.

Bluesky Digital Assets Corp, is building a high value digital enterprise. Bluesky in its startup phase, mined digital currencies such as Bitcoin and Ether and developed value-added technology services for the digital currency market, such as proprietary technology solutions. Offering a complete ecosystem of value-creation, Bluesky has invested appropriate portions of its previous digital currency mining profits back into its operations. A percentage of the profit was invested in the development of a proprietary Artificial Intelligence ("AI") based Blockchain technology. Overall, Bluesky takes an approach that enables the Corporation to scale, and respond to changing conditions, within the still-emerging Blockchain industry. The Corporation is poised to capture value in successive phases as this industry continues to change, evolve, and scale.

For more information please visit Bluesky at: www.blueskydigitalassets.com or www.blueskyintel.com.

Please also follow us on LinkedIn at: www.linkedin.com/company/bluesky-digital-assets/.

For further information please contact:

Mr. Ben Gelfand
CEO & Director
Bluesky Digital Assets Corp.
T: (416) 363-3833
E: ben.gelfand@blueskydigitalassets.com 

Mr. Frank Kordy
Secretary & Director
Bluesky Digital Assets Corp.
T: (647) 466-4037
E: frank.kordy@blueskydigitalassets.com

Forward-Looking Statements

Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward- looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such. Neither CSE nor its Regulation Services Provider as that term is defined in the policies of the CSE accepts responsibility for the adequacy or accuracy of this release. We seek safe harbor.

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/176980

FAQ

What did Bluesky Digital Assets Corp. announce?

Bluesky Digital Assets Corp. announced that it had completed several debt settlement agreements.

How much debt did the Corporation settle?

The Corporation settled an aggregate of $296,625.00 CAD of secured debt.

How was the debt settled?

The debt was settled by issuing an aggregate of 5,932,500 Common Shares.

What will the debt settlement help with?

The settlement will assist the Corporation in preserving its cash for working capital and advancing its AI endeavors.

What is the impact on the Corporation's balance sheet?

With the completion of this debt settlement, the Corporation now has a very minimal amount of debt on its balance sheet.