Bluesky Digital Announces Termination of ChessGold Inc. Transaction and Management and Director Changes

TORONTO, ON / ACCESS Newswire / October 19, 2026 /Bluesky Digital Assets Corp. (CSE:BTC)(OTCID:BTCWF) ("Bluesky" or the "Company") announces that it will not be proceeding with its proposed acquisition and fundamental change transaction (the "Transaction") with ChessGold Inc. ("ChessGold"). Following a thorough review and ongoing discussions, the parties have determined that they will be unable to meet the financial requirements for an equity financing as set forth by the Canadian Securities Exchange (the "CSE") in its conditional approval and have mutually decided to terminate the share exchange agreement between the parties, previously announced on April 17, 2026.

The Company and ChessGold have expressed appreciation for their collaborative efforts throughout the process and wish each other continued success in their future endeavors, as both parties pursue new opportunities. The Company will resume activities in the technology sector, while searching for new opportunities to enhance shareholder value.

Trading in the common shares of the Company is expected to resume on the CSE upon receipt of confirmation from the CSE and the CSE issuing a bulletin announcing the resumption of trading.

Management and Director Update

The Company also wishes to announce the departure of Mr. Ben Gelfand as a Director and the Chief Executive Officer of the Company, effective October 19, 2026. The Company thanks Mr. Gelfand for his years of service to the Company. Mr. Alan Grant, the Chairman of the Board, has been appointed as interim Chief Executive Officer of the Company to fill the vacancy created by Mr. Gelfand 's departure.

The Company is also happy to welcome back Mr. Frank Kordy to its Board, effective immediately, to fill the vacancy created by Mr. Gelfand 's departure. Mr. Kordy previously served as a Director and the Chief Financial Officer of the Company.

About Bluesky Digital Assets Corp.

Bluesky Digital Assets Corp. is creating a 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.

For more information please visit Bluesky at: www.blueskydigitalassets.com

Please also follow us on Linkedin at: www.linkedin.com/company/bluesky-digital-assets/

For further information please contact:

Mr. Alan Grant
Chairman & Director
Bluesky Digital Assets Corp.
T: (437) 385-2114
E: info@blueskydigitalassets.com

Cautionary Statement

Trading in the securities of the Company should be considered highly speculative. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. 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 news release.

Forward-Looking Statements

This news release may contain assumptions, estimates, and other forward-looking statements regarding future events. Such forward-looking statements involve inherent risks and uncertainties and are subject to factors, many of which are beyond the Company 's control that may cause actual results or performance to differ materially from those currently anticipated in such 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 Company 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.

SOURCE:Bluesky Digital Assets Corp.

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