Bluesky Digital to Acquire ChessGold Inc.

Bluesky Digital Assets Corp. announced a binding letter of intent (LOI) to acquire ChessGold Inc. The transaction involves the acquisition of all outstanding common shares of ChessGold, forming the "Resulting Issuer." The transaction will require Bluesky shareholder approval and regulatory green lights from the Canadian Securities Exchange.

The acquisition may take forms such as a share exchange or amalgamation. Bluesky will issue 10 million shares at $0.10 per share to ChessGold's shareholders. Post-transaction, ChessGold shareholders will own 11.84% of the Resulting Issuer, subject to adjustments. Additionally, 20 million warrants will be issued to a ChessGold principal.

Ahead of this acquisition, Bluesky plans a private placement offering, aiming to raise $3 million. The offering will consist of units priced at $0.10 per unit, each including a common share and a purchase warrant. The funds will support transaction and working capital needs.