Bluesky Digital Assets Announces Corporate Update

Rhea-AI Summary

Bluesky Digital Assets Corp. (CSE: BTC) (OTCQB: BTCWF) has announced two significant corporate updates. First, the company has granted 6,250,000 Performance Warrants to Directors and Consultants, allowing holders to purchase common shares at $0.25 CAD per share within a 24-month expiration period. These warrants come with no vesting restrictions.

Additionally, Bluesky has activated its previously secured $750,000 CAD revolving credit facility, choosing to draw $150,000 CAD for general working capital purposes. This facility was initially announced on January 7, 2025.

Positive

• Access to immediate working capital through $150,000 CAD credit facility drawdown
• Performance incentives aligned with company growth through 6.25M warrants issuance

Negative

• Potential future dilution from 6.25M performance warrants if exercised
• Increased debt obligations from credit facility drawdown

Toronto, Ontario--(Newsfile Corp. - March 7, 2025) - Bluesky Digital Assets Corp., (CSE: BTC) (OTCQB: BTCWF), ("Bluesky" or the "Corporation") announced today that it had granted 6,250,000 Performance Warrants (the "Warrants") to Directors and Consultants to the Corporation. The Warrants entitle the holder of the Warrant to purchase 1 Common Share of the Corporation at an exercise price of $0.25 CAD. The Warrants expire 24 months after the date of issuance. No vesting restrictions have been placed on the Warrants. The Corporation further announced that it has elected to draw upon the $750,000 CAD revolving credit facility (the "Facility") that the Corporation announced it had secured via press release on January 7, 2025. The Corporation has elected to borrow $150,000 CAD from the Facility on the terms and conditions as stated in January 7, 2025 press release. Proceeds from the Facility will be used for general working capital purposes.

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/243841

FAQ

What are the terms of Bluesky Digital Assets (BTCWF) new Performance Warrants issued in March 2025?

The Performance Warrants allow holders to purchase common shares at $0.25 CAD with a 24-month expiration period, with no vesting restrictions.

How many Performance Warrants did Bluesky Digital Assets (BTCWF) issue to Directors and Consultants?

Bluesky issued 6,250,000 Performance Warrants to Directors and Consultants.

How much did Bluesky Digital Assets (BTCWF) draw from its revolving credit facility in March 2025?

Bluesky drew $150,000 CAD from its $750,000 CAD revolving credit facility.

What is the purpose of Bluesky Digital Assets (BTCWF) $150,000 CAD credit facility drawdown?

The funds will be used for general working capital purposes.