Bluesky Digital Assets Corp., Engages Financial Advisory Fir 2020-08-18 08:30 ET - News Release
Toronto, Ontario--(Newsfile Corp. - August 18, 2020) - Bluesky Digital Assets Corp., (CSE: BTC), (CSE: BTC.PR.A), (OTC Pink: BTCWF), ("Bluesky" or the "Corporation") is pleased to announce that it has engaged Regent Capital Partners of Toronto to act as financial advisors and to provide consulting services to the Corporation. The Corporation will commence a private placement raise of equity and it will use Regent to assist in that endeavor. The Corporation will announce the terms of the private placement once it commences. For more information about Regent please visit www.regentcp.ca.
Furthermore, the Corporation is also pleased to announce that it has completed the acquisition of the ASIC mining machines ("ASIC equipment") that the Corporation previously announced, via press release, back on May 12th of this year.
The previous owners of the ASIC equipment were co-located within the same hosting facility as Bluesky. The former owners of the ASIC equipment elected to hold off on receiving payment so they could observe how the Corporation could enhance the ASIC equipment's performance and digital mining capabilities. Based on the successful test period results, the former owners of the ASIC equipment have elected to accept Common Shares of the Corporation instead of cash as compensation for the ASIC equipment at an above market price of Eighteen Cents ("$0.18") per Common Share. As at market close on Monday August 17th, the Corporation's Common Shares closed at a price of $0.165 CDN per Common Share.
The Corporation has agreed to issue 1,277,778 Common Shares to settle $230,000.00 CDN of debt that is owed to the former owners of the ASIC equipment that Bluesky has acquired. The Corporation has also agreed to issue an additional 25,556 at a price of $0.18 CDN per Common Share as an interest payment on the $230,000.00 CDN owed to the former owners which the Corporation agreed to be paid if the transaction was finalized in Common Shares versus cash.
The Corporation has also agreed to issue 138,888 Common Shares at a price of $0.18 CDN per Common Share to settle debt owed to one Director of the Corporation.