Bluesky Digital terminates proposed ChessGold transaction and changes leadership
Bluesky Digital Assets Corp. will not proceed with its proposed acquisition and fundamental change transaction with ChessGold Inc. The company also announced changes to its board and executive leadership.
Bluesky Digital Assets Corp. (CSE:BTC)(OTCID:BTCWF) said on October 19, 2026 that it will not proceed with its proposed acquisition and fundamental change transaction involving ChessGold Inc. The companies have mutually agreed to end their share exchange agreement after determining that the required equity-financing conditions could not be met.
The decision followed a review and continued discussions between Bluesky and ChessGold. The parties determined they would be unable to satisfy the financial requirements for an equity financing set out by the Canadian Securities Exchange in its conditional approval.
The share exchange agreement was previously announced on April 17, 2026. The proposed acquisition and fundamental change transaction will therefore not proceed.
Bluesky said trading in its common shares is expected to resume on the CSE once the company receives confirmation from the exchange and the CSE issues a bulletin announcing the resumption.
Ben Gelfand left his positions as a Director and Chief Executive Officer effective October 19, 2026. Alan Grant, the company’s Chairman of the Board, has been appointed interim Chief Executive Officer to fill the vacancy.
Frank Kordy has also returned to the Board effective immediately. Kordy previously served as a Director and Chief Financial Officer of Bluesky. The company thanked Gelfand for his years of service.
Bluesky said it will resume activities in the technology sector while searching for new opportunities to enhance shareholder value.
The company describes its business as creating a digital enterprise at the intersection of Artificial Intelligence, Blockchain and Web3 business solutions. It also says it has invested in its Roadmap while leveraging its success as an early adopter providing proprietary technology solutions.
Bluesky stated that trading in its securities should be considered highly speculative. The company also said that no stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained in its announcement.
Bluesky Digital Assets Corp. announced that it will not proceed with its proposed acquisition and fundamental change transaction with ChessGold Inc. The parties mutually decided to terminate their share exchange agreement.
Bluesky Digital Assets Corp. announced the termination on October 19, 2026. The share exchange agreement had previously been announced on April 17, 2026.
The parties determined that they would be unable to meet the financial requirements for an equity financing set forth by the Canadian Securities Exchange in its conditional approval. Following a review and ongoing discussions, they mutually decided to terminate the agreement.
The proposed acquisition and fundamental change transaction will not proceed, and the share exchange agreement between Bluesky Digital Assets Corp. and ChessGold Inc. has been terminated by mutual decision.
Trading in Bluesky Digital Assets Corp.'s common shares is expected to resume on the CSE after the company receives confirmation from the CSE and the CSE issues a bulletin announcing the resumption of trading.
Ben Gelfand departed as a Director and Chief Executive Officer of Bluesky Digital Assets Corp. effective October 19, 2026. Alan Grant was appointed interim Chief Executive Officer, and Frank Kordy returned to the Board, both to fill the vacancy created by Mr. Gelfand's departure.
Alan Grant, the Chairman of the Board, has been appointed interim Chief Executive Officer of Bluesky Digital Assets Corp. His appointment fills the vacancy created by Ben Gelfand's departure.
Frank Kordy rejoined the Board of Bluesky Digital Assets Corp. effective immediately. He previously served as a Director and Chief Financial Officer of the company.
Bluesky Digital Assets Corp. said it will resume activities in the technology sector while searching for new opportunities to enhance shareholder value.
Bluesky Digital Assets Corp. says it is creating a digital enterprise at the intersection of Artificial Intelligence, Blockchain and Web3 business solutions. The company says it has invested in its Roadmap while leveraging its success as an early adopter providing proprietary technology solutions.
Bluesky Digital Assets Corp. is identified in the announcement as trading on the CSE under BTC and on OTCID under BTCWF. The release separately states that trading in the company's common shares is expected to resume on the CSE after confirmation and a bulletin from the CSE.
Bluesky Digital Assets Corp. said that trading in its securities should be considered highly speculative. The company also stated that no stock exchange, securities commission or other regulatory authority has approved or disapproved the information in the release.