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TORONTO - Bluesky Digital Assets Corp. (CSE:BTC) (OTCQB:BTCWF), a micro-cap technology company valued at $6.3 million that has seen its stock surge over 200% in the past year, announced Wednesday it has signed a non-binding letter of intent with online digital game developer ChessGold Inc., initiating a potential acquisition process.
The agreement, dated July 29, 2025, grants Bluesky a 120-day exclusive due diligence period to review ChessGold’s business and assets. Following successful completion of this review, Bluesky will have the opportunity to negotiate a definitive agreement to acquire either 100% of ChessGold’s outstanding equity and equity equivalents or all of its business operations. According to InvestingPro data, Bluesky maintains a strong financial position with more cash than debt and liquid assets exceeding short-term obligations.
The structure and terms of any transaction will be determined after the due diligence period concludes. Any proposed deal would be subject to standard closing conditions, including regulatory approvals from entities such as the Canadian Securities Exchange.
Bluesky Digital Assets describes itself as a digital enterprise focused on artificial intelligence, blockchain and Web3 business solutions. The company operates a platform called BlueskyINTEL that aims to support businesses in adopting emerging technologies.
The announcement, based on a press release statement from Bluesky, notes that there is no guarantee a binding merger agreement will be reached between the two companies. Completion of any transaction would depend on satisfactory due diligence findings and negotiation of definitive agreements. For investors considering this volatile stock, InvestingPro analysis suggests the shares are currently trading above their Fair Value, with additional metrics and insights available to subscribers.
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