Business
Bluesky Digital Assets Corp. Announces Non-Brokered Private Placement Offering of Up To an Aggregate of C$663,750
Toronto, Ontario--(Newsfile Corp. - April 11, 2023) - Bluesky Digital Assets Corp., (CSE: BTC) (O...
About this update from Bluesky Digital Assets Corp.
[{"type":"text","content":"Bluesky Digital Assets Corp. Announces Non-Brokered Private Placement Offering of Up To an Aggregate of C$663,750Toronto, Ontario--(Newsfile Corp. - April 11, 2023) - Bluesky Digital Assets Corp., (CSE: BTC) (OTCQB: BTCWF), (\"Bluesky\" or the \"Corporation\") is pleased to announce a non-brokered private placement of up to 14,750,000 units of the Company (each a \"Unit\") at a price of C$0.045 per Unit for aggregate gross proceeds of up to C$663,750 which will be 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 Exemptions (the \"LIFE Offering\"). Each Unit consists of one common share of the Company (each a \"Common Share\") and one Common Share purchase warrant (\"Warrant\"). Each full Warrant entitles its holder to acquire one 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 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 Company 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 Company intends to use the net proceeds from the LIFE Offering for (i) marketing and promotion of the Company's blockchain engagement platform (www.blueskyintel.com) (the \"WEP\"), (ii) the development of the Company's artificial intelligence (\"AI\") division, Bluesky INTEL, and (iii) general working capital purposes. The Company may compensate certain eligible finders under the LIFE Offering and may pay a cash commission of up to 8% of the proceeds of the LIFE Offering and issue such number of finder's warrants equal to 8% of the total Units issued under the LIFE Offering. The LIFE Offering is expected to be completed in multiple closings, with the final closing to occur no later than May 3, 2023. The securities iss...