Bluesky Digital Assets Corp. Engages with Weteams for Global Expansion of BlueskyINTEL

February 22, 2024 8:00 AM EST | Source: Bluesky Digital Assets Corp.

Toronto, Ontario--(Newsfile Corp. - February 22, 2024) - Bluesky Digital Assets Corp., (CSE: BTC) (OTCQB: BTCWF), ("Bluesky" or the "Corporation") announced today that it has formalized and closed on the previously initiated formal discussions, which were previously announced via press release on December 4th 2023, for the establishment of a strategic joint venture with Weteams Solutions Pvt. Ltd. ('Weteams')

Bluesky's focus on Artificial Intelligence ("AI") and Blockchain ("BC") led to the creation of the BlueskyINTEL ("BSI") proprietary web engagement platform in 2021. BlueskyINTEL positions to exit 2024 as a valuable and revenue producing digital AI/Blockchain platform.

Weteams Solutions Pvt. Ltd., headquartered in India, is an important partner in developing the BlueskyINTEL platform, bringing to BSI its digital innovation expertise and technology service capabilities. Led by entrepreneur Pranay Mathur, Weteams aligns with Bluesky's strategic goals, contributing to the platform's scalability and market reach. The partnership underscores mutual benefits, leveraging India's robust tech market for BlueskyINTEL's growth, with Mathur's investment signifying confidence in the venture's AI and Blockchain potential.

Bluesky, through this now formalized agreement with Weteams, will not only benefit from exposure to an international fast-growing tech venture and SME market but also gain access to a large international audience and potential user base for BlueskyINTEL, positioning the company for enhanced financial performance and shareholder value. This strategic collaboration is expected to significantly bolster Bluesky's market presence and operational efficiencies, laying a solid foundation for sustained growth and potentially leading to an upward trajectory in its share price.

Ben Gelfand, CEO stated: "Through this strategic agreement, Bluesky and Weteams anticipate incremental revenue growth, driven by expanded market access and innovative monetization strategies in the burgeoning space. Our combined expertise and shared vision for AI and Blockchain technologies set the stage for BlueskyINTEL to capture a substantial share of the global digital market."

The Corporation also announced today that it has entered into a credit facility agreement where the Corporation may draw upon the credit facility and borrow up to $300,000 CAD in multiple tranches with the first tranche being set to $100,000 CAD. The lending rate for any funds drawn from the facility has been set to 15% per annum with the repayment to occur within 24 months after any funds have been drawn upon. The Corporation will use the proceeds from the credit facility to further advance the joint venture agreement with Weteams. As of the date of this press release, the Corporation has not drawn upon the credit facility. The Corporation further announced today that it has entered into a debt settlement agreement where it will settle $452,000 CAD in debt owed via the issuance of 13,560,000 Common Shares issued at $0.0333 CAD per Common Share. All Common Shares issued in the debt settlement are subject to a four month plus 1 day hold period. The issuance of the Common Shares will not result in a change of control.

About Bluesky Digital Assets Corp.
Bluesky Digital Assets Corp, has created a high value digital enterprise at the intersection of Artificial Intelligence, Blockchain and Web3 business solutions. Leveraging its success as an early adopter providing proprietary technology solutions, Bluesky has invested in its Roadmap. Bluesky's platform, BlueskyINTEL, is well positioned to leverage the current exponential growth of Artificial Intelligence ("AI") and Blockchain based technologies through a tightly focus built collaborative platform. This innovative web platform offering supports and better enables businesses to adopt and utilize these emerging and developing technologies.

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For further information please contact:

Mr. Ben Gelfand 
CEO & Director
Bluesky Digital Assets Corp.
T: (416) 363-3833

Mr. Frank Kordy
Secretary & Director
Bluesky Digital Assets Corp.
T: (647) 466-4037

Forward-Looking Statements
Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward- looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such. Neither CSE nor its Regulation Services Provider as that term is defined in the policies of the CSE accepts responsibility for the adequacy or accuracy of this release. We seek safe harbor.

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