Bluesky Digital Assets Expands with Strategic Investment... Toronto, Ontario--(Newsfile Corp. - January 22, 2025) - Bluesky Digital Assets Corp., (CSE: BTC) (OTCQB: BTCWF) ("Bluesky" or the "Corporation"), announced today that it has made a strategic investment into ChessGold Inc. ("ChessGold") an online digital game developer with a new spin on digital coins www.chessgold.app.
Bluesky has agreed to enter into a loan agreement with ChessGold where Bluesky will advance up to $1,000,000 CAD to ChessGold. Any funds advanced by Bluesky to ChessGold will be backed by a General Security Agreement on the assets of ChessGold. Any advances shall also bare an interest rate of 5% per annum. Bluesky shall also have the ability to convert any amounts outstanding from the loan into Common Shares of ChessGold. ChessGold will use any proceeds loaned by Bluesky to ChessGold for General Working Capital purposes and to fund ChessGold's planned "go public" endeavors. Should either ChessGold or Bluesky, elect to convert any of the outstanding amounts owed to Bluesky into Common Shares of ChessGold, the price of the Common Shares for the conversion shall be determined at the time of conversion. The conversion price will be determined by the valuation of ChessGold's business at the time of conversion or should ChessGold have commenced its go public endeavor, the conversion price will be set to the Initial Public Offering price.
Bluesky's continued focus on Artificial Intelligence ("AI") and Blockchain ("BC") led to this natural fit with ChessGold which embraces these new verticals in it's game development process. In a further development, the Corporation is also pleased to announce that ChessGold is now a commercial client of the Corporation's BlueskyIntel.com platform. The Bluesky Intel platform will assist and offer consulting expertise for ChessGold in it's last mile before full market launch.
Gramos Mjeku, CEO of ChessGold stated: "Chess is a timeless and elegant game, cherished by millions across the globe. At ChessGold, we've elevated this classic game with innovative features aimed at enriching the experience and making it more engaging for players of all skill levels. This is chess in its purest form, enhanced for the modern era without compromising its authenticity. After more than five years of dedicated effort, we're excited to announce that ChessGold is set to launch in just a few days. As a proudly Canadian-founded company, our mission is to operate on a global scale, sharing this innovation with chess enthusiasts everywhere. We're eager to unveil the ChessGold app and invite you to join us in transforming how chess is played and enjoyed."
Ben Gelfand, CEO of Bluesky stated: "We are ecstatic to have the opportunity to make an investment into this amazing opportunity as our Company has been searching for this kind of dynamic and innovative deal in the gaming space, and we believe we have found a winner. We are also very pleased to work with Mr. Mjeku who has a focused his career on computer science and technology, and he has extensive technical expertise for the digital web and app-based game business."
https://www.newsfilecorp.com/release/238068/Bluesky-Digital-Assets-Expands-with-Strategic-Investment-into-ChessGold-Inc.-an-Online-Chess-Revolution