Fintech
Bluesky Digital Assets Corp., Raises $2,183,000.00 CDN via the Completion of its Oversubscribed Private Placement, Engages North Equities, Grants Stock Options, Announces an Exercise of Stock Options
Toronto, Ontario–(Newsfile Corp. – January 18, 2021) – Bluesky Digital Assets Corp. (CSE: BTC) (CSE: BTC.PR.A) (OTC Pink: BTCWF) (“Bluesky” or the “Corporation”) announced today that it had closed the second and final tranche of its previously announced private placement raise. In total, and combined between the two tranches, the Corporation raised a grand total of $2,183,000.00 CDN via the sale of 4,366,000 Units. As previously stated in the Corporation’s January 5th, 2021 press release, each Unit consisted of one Common Share in the capital of the Corporation and one Common Share Purchase Warrant (“Warrant”), with each Warrant entitling the holder thereof the ability to purchase one additional Common Share of the Corporation at an exercise price of $1.00 CDN per Common Share for a period of 36 months from the closing of the financing. The Warrants will be subjected to an accelerated expiry date if certain market conditions occur which were outlined in the Corporation’s subscription document. All Common Shares issued in connection with the placement will be subject to a four month plus one day hold period under applicable Canadian securities laws.
$46,560.00 CDN in finder’s fees and commissions was payable on a total of $582,000.00 CDN of the Gross Proceeds raised. Furthermore, an additional 93,120 Broker Warrants were issued as payment on the same terms and conditions as the Warrants contained the Units that were offered for sale in the Corporation’s now completed and closed private placement raise. The Broker Warrants and the finder’s fees were payable to Canaccord Genuity, EMD Financial Inc., Hampton Securities Ltd., Leede Jones Gable, Mackie Research Capital Corporation, and PI Financial Corp.
The Corporation is pleased to announce that it has entered into a 6 month marketing and consulting contract with North Equities Corp., (“North Equities”) of Toronto. North Equities has been assigned the task of increasing the Corporation’s network of contacts in the investment community, increasing the awareness of the Corporation to potential new investor leads and expanding the Corporation’s current social media presence. As compensation, the Corporation has issued North Equities 119,048 Common Shares with a 7-day VWAP implied value of $0.84 CDN per Common Share. All Common Shares issued to North Equities have been place under a 6 month hold period.
Due to the Corporation’s private placement offering being oversubscribed, the Corporation has also issued a combined total of 1,600,000 Stock Options to consultants and Directors of the Corporation. The Options will vest immediately and are exercisable at a price of $0.60 CDN per Option. The Options will expire three years from the date of issuance. On December 29, 2020, the Corporation applied for, and received, a price protection of $0.50 CDN for the issuance of Units and Stock Options from the Canadian Securities Exchange up until February 12, 2021. The Stock Options grant was contingent on the Corporation successfully oversubscribing its Private Placement offering by a minimum of $250,000.00 CDN. On December 29, 2020 the closing price of the Corporation’s Common Shares was $0.49 CDN and the Options were set at $0.60 CDN. The Corporation also announced today that Consultants and a Director of the Corporation had exercised a combined 912,500 Stock Options. In total, $136,875.00 CDN in proceeds was raised via the exercise of the Stock Options.
The Corporation intends to immediately utilize the $2,273,315.00 CDN in net proceeds from the closing of the private placement and the exercise of the stock options to purchase and deploy additional mining hardware to expand on its current crypto mining efforts and to further advance its R&D and software product initiatives for areas like (“Decentralized Finance” or “DeFi”), Stablecoin, and (“Artificial Intelligence” or “AI”) based efforts. The Corporation is expanding its commitment in these areas of focus to better complement the Corporation’s overall business with a diversified portfolio of solutions and offerings in addition to its primary enterprise class active crypto mining deployments.
About Bluesky Digital Assets Corp.
Bluesky Digital Assets Corp, 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 digital mining proprietary software. 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 (“AI”) based technology. Overall, Bluesky takes an approach that enables the Corporation to scale, and respond to changing conditions, within the still-emerging digital currency industry. The Corporation is poised to capture value in successive phases as this industry continues to scale. For more information please visit www.blueskydigitalassets.com
For further information please contact:
Mr. Ben Gelfand
CEO & Director
Bluesky Digital Assets Corp.
T: (416) 363-3833
E: [email protected]
Mr. Frank Kordy
Secretary & Director
Bluesky Digital Assets Corp.
T: (647) 466-4037
E: [email protected]
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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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/72290
Fintech
Central banks and the FinTech sector unite to change global payments space
The BIS, along with seven leading central banks and a cohort of private financial firms, has embarked on an ambitious venture known as Project Agorá.
Named after the Greek word for “marketplace,” this initiative stands at the forefront of exploring the potential of tokenisation to significantly enhance the operational efficiency of the monetary system worldwide.
Central to this pioneering project are the Bank of France (on behalf of the Eurosystem), the Bank of Japan, the Bank of Korea, the Bank of Mexico, the Swiss National Bank, the Bank of England, and the Federal Reserve Bank of New York. These institutions have joined forces under the banner of Project Agorá, in partnership with an extensive assembly of private financial entities convened by the Institute of International Finance (IIF).
At the heart of Project Agorá is the pursuit of integrating tokenised commercial bank deposits with tokenised wholesale central bank money within a unified, public-private programmable financial platform. By harnessing the advanced capabilities of smart contracts and programmability, the project aspires to unlock new transactional possibilities that were previously infeasible or impractical, thereby fostering novel opportunities that could benefit businesses and consumers alike.
The collaborative effort seeks to address and surmount a variety of structural inefficiencies that currently plague cross-border payments. These challenges include disparate legal, regulatory, and technical standards; varying operating hours and time zones; and the heightened complexity associated with conducting financial integrity checks (such as anti-money laundering and customer verification procedures), which are often redundantly executed across multiple stages of a single transaction due to the involvement of several intermediaries.
As a beacon of experimental and exploratory projects, the BIS Innovation Hub is committed to delivering public goods to the global central banking community through initiatives like Project Agorá. In line with this mission, the BIS will soon issue a call for expressions of interest from private financial institutions eager to contribute to this ground-breaking project. The IIF will facilitate the involvement of private sector participants, extending an invitation to regulated financial institutions representing each of the seven aforementioned currencies to partake in this transformative endeavour.
Source: fintech.globa
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Fintech
TD Bank inks multi-year strategic partnership with Google Cloud
TD Bank has inked a multi-year deal with Google Cloud as it looks to streamline the development and deployment of new products and services.
The deal will see the Canadian banking group integrate the vendor’s cloud services into a wider portion of its technology solutions portfolio, a move which TD expects will enable it “to respond quickly to changing customer expectations by rolling out new features, updates, or entirely new financial products at an accelerated pace”.
This marks an expansion of the already established relationship between TD Bank and Google Cloud after the group previously adopted the vendor’s Google Kubernetes Engine (GKE) for TD Securities Automated Trading (TDSAT), the Chicago-based subsidiary of its investment banking unit, TD Securities.
TDSAT uses GKE for process automation and quantitative modelling across fixed income markets, resulting in the development of a “data-driven research platform” capable of processing large research workloads in trading.
Dan Bosman, SVP and CIO of TD Securities, claims the infrastructure has so far supported TDSAT with “compute-intensive quantitative analysis” while expanding the subsidiary’s “trading volumes and portfolio size”.
TD’s new partnership with Google Cloud will see the group attempt to replicate the same level of success across its entire portfolio.
Source: fintechfutures.com
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Fintech
MAS launches transformative platform to combat money laundering
The MAS has unveiled Cosmic, an acronym for Collaborative Sharing of Money Laundering/Terrorism Financing Information and Cases, a new money laundering platform.
According to Business Times, launched on April 1, Cosmic stands out as the first centralised digital platform dedicated to combating money laundering, terrorism financing, and proliferation financing on a worldwide scale. This move follows the enactment of the Financial Services and Markets (Amendment) Act 2023, which, along with its subsidiary legislation, commenced on the same day to provide a solid legal foundation and safeguards for information sharing among financial institutions (FIs).
Cosmic enables participating FIs to exchange customer information when certain “red flags” indicate potential suspicious activities. The platform’s introduction is a testament to MAS’s commitment to ensuring the integrity of the financial sector, mandating participants to establish stringent policies and operational safeguards to maintain the confidentiality of the shared information. This strategic approach allows for the efficient exchange of intelligence on potential criminal activities while protecting legitimate customers.
Significantly, Cosmic was co-developed by MAS and six leading commercial banks in Singapore—OCBC, UOB, DBS, Citibank, HSBC, and Standard Chartered—which will serve as participant FIs during its initial phase. The initiative emphasizes voluntary information sharing focused on addressing key financial crime risks within the commercial banking sector, such as the misuse of legal persons, trade finance, and proliferation financing.
Loo Siew Yee, assistant managing director for policy, payments, and financial crime at MAS, highlighted that Cosmic enhances the existing collaboration between the industry and law enforcement authorities, fortifying Singapore’s reputation as a well-regulated and trusted financial hub. Similarly, Pua Xiao Wei of Citi Singapore and Loretta Yuen of OCBC have expressed their institutions’ support for Cosmic, noting its potential to ramp up anti-money laundering efforts and its significance as a development in the banking sector’s ability to combat financial crimes efficiently. DBS’ Lam Chee Kin also praised Cosmic as a “game changer,” emphasizing the careful balance between combating financial crime and ensuring legitimate customers’ access to financial services.
Source: fintech.global
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