Bluesky Digital Assets Corp. has closed the second and final tranche of its non-brokered private placement financing. The corporation raised $1,231,250 via the sale of 4,925,000 units in the second tranche. Combined, the corporation raised a grand total of $2,860,750 in gross proceeds via the sale of 11,443,000 units between the two tranches.
As previously stated in the corporation's Dec. 20, 2021, press release, all units were offered at a price of 25 cents per unit. Each unit consisted of one common share in the capital of the corporation and one common share purchase warrant, with each warrant entitling the holder thereof to purchase one additional common share of the corporation at an exercise price of 40 cents per common share for a period of 36 months from the closing of the financing. The warrants in this offering will be subjected to an accelerated expiry date if certain market conditions occur which are outlined in the corporation's subscription document. All common shares issued in connection with this placement are subject to a four-month-plus-one-day hold period under applicable Canadian securities laws. No securities from this offering were sold in the United States.
In connection with the closing, the corporation also paid a combined total of $115,900 in finders fees and issued 463,600 broker warrants. The broker warrants were issued on the same terms as the warrants contained in the units of this offering.
All proceeds from the financing will be primarily used for the purchasing of additional mining equipment with the purpose of expanding the corporation's existing digital asset mining operations and for general working capital purposes.
About Bluesky Digital Assets Corp.
Bluesky Digital Assets is building a high-value digital currency enterprise. Bluesky mines digital currencies, such as bitcoin and ether, and is developing value-added technology services for the digital currency market, such as proprietary technology solutions. Offering a complete ecosystem of value-creation, Bluesky is targeting reinvesting appropriate portions of its digital currency mining profits back into its operations. A percentage of the profit will be invested in the development of a proprietary artificial-intelligence-based technology. Over all, Bluesky takes an approach that enables the corporation to scale, and respond to changing conditions, within the still-emerging blockchain industry. The corporation is poised to capture value in successive phases as this industry continues to scale.