Blockchain
Bluesky Digital Assets Corp. Closes Second and Final Tranche of Non-Brokered Private Placement
Toronto, Ontario–(Newsfile Corp. – May 29, 2023) – Bluesky Digital Assets Corp. (CSE: BTC) (CSE: BTC.PR.A) (OTCQB: BTCWF) (“Bluesky” or the “Corporation“) is pleased to announce that, further to its news release on April 11, 2023 announcing non-brokered private placement of up to 14,750,000 units of the Corporation (each a “Unit“) at a price of C$0.045 per Unit for aggregate gross proceeds of up to C$663,750 (“LIFE Offering“), the Corporation has now closed the second tranche of the LIFE Offering. On May 26, 2023, the Corporation closed the second tranche of the LIFE Offering through the issuance of 12,790,000 Units at a price of C$0.045 per Unit for aggregate gross proceeds of C$575,550 (the “LIFE Second Tranche“). On April 28, 2023, the Corporation closed the first tranche of the LIFE Offering through the issuance of 1,960,000 Units at a price of C$0.045 per Unit for aggregate gross proceeds of C$88,200 (the “LIFE First Tranche“). With the closing of the LIFE First and Second Tranches the Corporation in total issued 14,750,000 Units for aggregate gross proceeds of C$663,750.
Each Unit consists of one common share of the Corporation (a “Common Share“) and one Common Share purchase warrant (each a “Warrant“). Each Warrant entitles its holder to purchase one additional Common Share at an exercise price of $0.065 per Common Share for a period of 24 months from the date of issue (“Closing Date“). Units in the LIFE First Tranche were offered for sale to purchasers resident in Canada (except Quebec) and/or other qualifying jurisdictions pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 – Prospectus Exemption, and will not be subject to any statutory hold period in accordance with applicable Canadian securities laws.
In the event that, during the period following 24 months from the Closing Date, the volume-weighted average trading price of the Common Shares exceeds C$0.13 per Common Share for any period of 10 consecutive trading days, the Corporation may, at its option, following such 10-day period, accelerate the expiry date of the Warrants by issuing a press release (a “Warrant Acceleration Press Release“), and, in such case, the expiry date of the Warrants shall be deemed to be 5:00 p.m. (Toronto time) on the 30th day following the date of issuance of the Warrant Acceleration Press Release.
The Corporation intends to use the net proceeds from the LIFE First Tranche for (i) marketing and promotion of the Corporation’s blockchain engagement platform (www.blueskyintel.com) (the “WEP“), (ii) the development of the Corporation’s artificial intelligence (“AI“) division, Bluesky INTEL, and (iii) general working capital purposes.
In connection with the LIFE Second Tranche, the Corporation paid a cash commission of C$3,600 and issued 80,000 finder’s warrants to certain eligible finders. In connection with the LIFE First Tranche, the Corporation paid a cash commission of C$6,660 and issued 148,000 finder’s warrants to certain eligible finders.
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 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: [email protected]
Mr. Frank Kordy
Secretary & Director
Bluesky Digital Assets Corp.
T: (647) 466-4037
E: [email protected]
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking information or forward-looking statements under applicable Canadian securities laws (collectively, “forward-looking statements”). All information that addresses activities or developments that we expect to occur in the future are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect”, “likely” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made. In the press release, such forward-looking statements include, but are not limited to, statements regarding, the Corporation’s performance, business objectives and milestones and the anticipated timing thereof; acceleration of the expiry date of the Warrants; the size and terms of the LIFE Offering; and the anticipated use of net proceeds from the LIFE Offering.
In making the forward-looking statements in this press release, the Corporation has applied several material assumptions, including without limitation: the Corporation’s ability to comply with all applicable regulations and laws, including environmental, health and safety laws; the Corporation’s ability to meet the listing requirements of the CSE and OTCQB; the Corporation’s ability to develop its AI, Bluesky INTEL, Bluesky DEFI and the WEP; the Corporation having sufficient working capital for future operating activities; the ability of the Corporation to achieve its business objectives and milestones and the anticipated timing of execution; the Corporation’s ability to continue as a going concern; the Corporation’s ability to achieve profitability in the 2023 fiscal year; the Corporation’s ability to obtain additional financing for continued operations on terms acceptable to the Corporation; and the Corporation’s ability to use the proceeds from the LIFE Offering for the business objectives outlined herein.
The above lists of forward-looking statements and assumptions are not exhaustive. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated or implied by such forward-looking statements due to a number of factors and risks. These include: changes in general economic, business and political conditions, including changes in the financial markets; delays or the inability of the Corporation to obtain necessary permits, consents or authorizations required; changes in laws, regulations and policies affecting the Corporation’s operations; currency fluctuations; environmental issues and liabilities; the Corporation’s inability to continue to meet the listing requirements of the CSE and OTCQB; the inability of the Corporation to obtain additional financing for continued operations on terms acceptable to the Corporation; the lack of control over the Corporation’s investees; risks relating to investing in the Common Shares; risks relating to the use of proceeds from the LIFE Offering; volatility in the market price of the Corporation’s Common Shares; dilution of shareholders’ holdings; negative operating cash flow; the negative effects of interest rate and exchange rate changes; the potential impact of health crises and market instability due to the COVID-19 pandemic; risks relating to the Corporation’s reliance on key employees; limitations in the liquidity of the Common Shares; litigation risks; risks related to the Corporation’s status as a “foreign private issuer” under U.S. securities laws, including the loss of status thereof; risks with the integration of new businesses and acquisitions; risks related to the Corporation’s status as an “emerging growth company” under the U.S. securities laws; the Corporation’s inability to expand into new business areas and geographic markets; management of growth; the risk of defaulting on existing debt; the Corporation’s inability to continue as a going concern; and the Corporation’s inability to achieve profitability in 2023, as well as those factors discussed under the heading “Risks Related to Our Business and Industry” in the Corporation’s latest Management Discussion and Analysis and other filings of the Corporation, copies of which can be found under the Corporation’s profile on SEDAR at www.sedar.com.
Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Corporation has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Corporation does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/167867
Blockchain
LCT Secures VARA In-Principle Approval, Defining Its Role in Dubai’s Crypto Landscape
Blockchain
Bybit One-Click Buy Offers a Winning Chance in First-Time Deposits Lucky Draws
bybit lucky
Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
-
Blockchain6 days ago
Bridging Innovation and Regulation: How Yellow Network is Transforming Non-Custodial Trading in a Pro-Crypto Future
-
Blockchain7 days ago
Prosper Adds 7,000 More ASIC Miners from BITMAIN To Drive Tokenization of Hashrate as Multichain RWA ; Targets 170MW Capacity With New Strategic Round
-
Blockchain Press Releases6 days ago
HTX Ventures Identifies Five Rapidly-Growing Sectors in 2024, Expects Positive Crypto Regulations Driven by Trump Next Year
-
Blockchain3 days ago
50,000+ Mined Coins and 100,000 New Users: EMCD Summarizes 2024
-
Blockchain6 days ago
Blocks & Headlines: Today in Blockchain (Reserve Bank of India (RBI), Aethir, Blockchain Center Abu Dhabi, Qubetics, )
-
Blockchain7 days ago
Loan Brokers Market Opportunities and Strategies Report to 2033 – Loan Brokers Market Poised for Strong Growth, Forecasted to Reach $947.9 Billion by 2033
-
Blockchain5 days ago
Building Bridges in Crypto: Bybit Sparked Dialogues and Joined Industry Leaders at Bitcoin MENA
-
Blockchain3 days ago
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)