Toronto, Ontario–(Newsfile Corp. – February 22, 2021) – Bluesky Digital Assets Corp., (CSE: BTC) (CSE: BTC.PR.A), (“Bluesky” or the “Corporation”) announced today that it is conducting a non-brokered private placement financing with the purpose of raising up to Three Million Dollars (“$3,000,000.00”) CDN via the issuance of up to Two Million (“2,000,000”) Units at a price of One Dollar and Fifty Cents (“$1.50”) CDN per Unit. Each Unit will consist of one Common Share (a “Share”) in the capital of the Corporation and one Common Share Purchase Warrant (“Warrant”), with each Warrant entitling the holder thereof to purchase one additional Common Share of the Corporation at an exercise price of Two Dollars (“$2.00”) CDN per Common Share for a period of 36 months from the closing of the financing. The Warrants will be subjected to an accelerated expiry date if certain market conditions occur which are outlined in the Corporation’s subscription document. All Common Shares issued in connection with this placement will be subject to a four month plus one day hold period under applicable Canadian securities laws.

All inquiries in regard to this offering can be e-mailed to the following address: unitpp@blueskydigitalassets.com

Proceeds from this financing will be primarily focused for purchasing additional Mining Equipment with the purpose of expanding the Corporations existing Digital Assets Mining operations and for general working capital purposes.

The Corporation also announced today that it will conduct a secondary and concurrent “private placement-in-kind” open only to the holders of the Corporation’s Class – A Preferred Shares. Any holder of the Corporation’s Class – A Preferred Shares that elects to participate in the secondary offering, will receive Units of the Corporation on the same terms and conditions as stated in the first paragraph of this press release. Holders of the Class – A Preferred Shares that elect to participate in this secondary offering will need to transfer ownership of the Class – A’s they currently hold and own back to the Corporation. The Corporation will value the Class – A Preferred Shares at a price of Ten Dollars (“$10.00”) CDN per Class – A Share and therefore will issue 6.6 Units for every 1 Class – A Share received. This secondary offering will close on March 12th, 2021.

All inquiries in regard to this offering can also be e-mailed to the following address: unitpp@blueskydigitalassets.com

About Bluesky Digital Assets Corp.

Bluesky Digital Assets Corp, is building a high value digital currency enterprise. Bluesky mines digital currencies, such as Bitcoin and Ether, and is developing value-added technology services for the digital currency market, such as digital mining proprietary software. Offering a complete ecosystem of value-creation, Bluesky is targeting reinvesting appropriate portions of its digital currency mining profits back into its operations. A percentage of the profit will be invested in the development of a proprietary Artificial Intelligence (“AI”) based technology. Overall, Bluesky takes an approach that enables the Corporation to scale, and respond to changing conditions, within the still-emerging digital currency industry. The Corporation is poised to capture value in successive phases as this industry continues to scale. For more information please visit www.blueskydigitalassets.com

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.

THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES.

– 30 –

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/75133