Bluesky Digital Assets Corp. Announces That it is Unaware of Any Additional Material Change, the Closing of its Fully Subscribed Private Placement Under the Listed Issuer Financing Exemption, the Exercise of Warrants

Rhea-AI Summary

Bluesky Digital Assets (CSE: BTC) (OTCQB: BTCWF) has confirmed no material changes in operations despite recent market activity increases. The company announced the closing of its fully subscribed non-brokered private placement, raising C$242,500 through 4,850,000 Units at C$0.05 per Unit. Each Unit includes one Common Share and one Warrant exercisable at C$0.065 for 24 months. Additionally, the company raised C$415,250 through warrant exercises, bringing total funds raised to C$657,750. The private placement was conducted under the Listed Issuer Financing Exemption with no resale restrictions in Canada.

Positive

• Successfully raised total funds of C$657,750 through private placement and warrant exercises
• Private placement fully subscribed, raising C$242,500
• Additional C$415,250 raised through warrant exercises

Negative

• None.

Toronto, Ontario--(Newsfile Corp. - November 14, 2024) - Bluesky Digital Assets Corp., (CSE: BTC) (OTCQB: BTCWF) ("Bluesky" or the "Corporation") at the request of CIRO, the Corporation wishes to confirm that the Corporation's management is unaware of any material change in the Corporation's operations that would account for the recent increase in market activity.

The Corporation further announced today that it had closed its fully subscribed non-brokered private placement (the "Private Placement"), under the Listed Issuer Financing Exemption ("LIFE") of 4,850,000 Units of the Corporation at a price of $0.05 per Unit to raise gross proceeds of $242,500 CAD. The Private Placement was previously announced via press release on October 28, 2024.

The Units were issued pursuant to the Private Placement under the Listed Issuer Financing Exemption under Part 5A of National Instrument – 45-106 – Prospectus Exemptions (the "Listed Issuer Financing Exemption" or "LIFE") and are not subject to resale restrictions in Canada in accordance with the applicable Canadian securities laws and the policies of the Canadian Securities Exchange (the "Exchange").

Each Unit consisted of one Common Share of the Corporation (each a "Common Share") and one Common Share Purchase Warrant ("Warrant"). Each full Warrant entitled the holder to acquire one additional Common Share at an exercise price of C$0.065 per Common Share for a period of 24 months following the closing of the LIFE Offering ("Closing Date").

In connection with the closing of the Private Placement, the Corporation paid finders' fees to arms-length brokerage firms of C$3,500 and issued 70,000 Common Share Purchase Warrants (each, a "Broker Warrant"). Each Broker Warrant entitles the holder to purchase one common share at a price of $0.065 at any time on or before November 14, 2026.

The Corporation also announced today that it had raised an additional C$415,250 via the exercise of 2,000,000 Warrants at price of C$0.05 per Warrant and via the exercise of 4,850,000 Warrants at price of C$0.065 per Warrant. In total, and combined the Corporation raised C$657,750 via the closing of the LIFE and with the exercise of the Warrants.

About Bluesky Digital Assets Corp.

Bluesky Digital Assets Corp, has created a high value digital enterprise at the intersection of Artificial Intelligence, Blockchain and Web3 business solutions. Leveraging its success as an early adopter providing proprietary technology solutions, Bluesky has invested in its Roadmap. Bluesky's platform, BlueskyINTEL, is well positioned to leverage the current exponential growth of Artificial Intelligence ("AI") and Blockchain based technologies through a tightly focus built collaborative platform. This innovative web platform offering supports and better enables businesses to adopt and utilize these emerging and developing technologies.

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

This news release may contain assumptions, estimates, and other forward-looking statements regarding future events. Such forward-looking statements involve inherent risks and uncertainties and are subject to factors, many of which are beyond the Company's control that may cause actual results or performance to differ materially from those currently anticipated in such 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/229980

FAQ

How much did Bluesky Digital Assets (BTCWF) raise in their recent private placement?

Bluesky Digital Assets raised C$242,500 through their fully subscribed non-brokered private placement, issuing 4,850,000 Units at C$0.05 per Unit.

What is the total amount raised by Bluesky Digital Assets (BTCWF) through the private placement and warrant exercises?

Bluesky Digital Assets raised a total of C$657,750, combining C$242,500 from the private placement and C$415,250 from warrant exercises.

What are the terms of the warrants issued in Bluesky Digital Assets' (BTCWF) private placement?

Each warrant entitles holders to acquire one additional Common Share at an exercise price of C$0.065 per share for a period of 24 months following the closing date.