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Bluesky Digital Assets ( (TSE:BTC) ) just unveiled an announcement.
Bluesky Digital Assets Corp. has signed a binding letter of intent to acquire all outstanding shares of ChessGold Inc. in a transaction that will constitute a fundamental change under Canadian Securities Exchange rules and shift the resulting issuer’s core business to ChessGold’s operations. The deal structure, to be finalized in a definitive agreement, is expected to see ChessGold become a wholly owned subsidiary, with ChessGold shareholders receiving 10 million Bluesky shares, representing about 11.84% of the post-transaction company, and ChessGold’s principal receiving 20 million milestone-based warrants held in escrow, alongside a planned corporate name change to ChessGold Inc. and potential board and governance changes, all subject to shareholder, regulatory and exchange approvals with no assurance the transaction will close.
The most recent analyst rating on (TSE:BTC) stock is a Sell with a C$0.08 price target. To see the full list of analyst forecasts on Bluesky Digital Assets stock, see the TSE:BTC Stock Forecast page.
Spark’s Take on TSE:BTC Stock
According to Spark, TipRanks’ AI Analyst, TSE:BTC is a Neutral.
The score is held down primarily by weak financial performance (minimal/unstable revenue, large losses, and ongoing cash burn). Technicals provide a meaningful offset with a strong uptrend and positive momentum, but valuation remains challenged due to negative earnings and no dividend support.
To see Spark’s full report on TSE:BTC stock, click here.
More about Bluesky Digital Assets
Bluesky Digital Assets Corp., listed on the CSE and OTCQB, is a Canadian public company that has historically focused on digital assets and related activities. The company operates within the broader blockchain and digital asset sector and is now positioning itself to transition its primary business toward the activities currently carried on by ChessGold Inc., pending completion of a proposed acquisition and resulting issuer rebranding.
Average Trading Volume: 79,863
Technical Sentiment Signal: Sell
Current Market Cap: C$6.33M
See more insights into BTC stock on TipRanks’ Stock Analysis page.