Blue Sky Uranium closes $868,999 private placement

Oct 23, 2019

2019-10-23 13:00 ET – News Release

Mr. Nikolaos Cacos reports

BLUE SKY URANIUM CLOSES NON-BROKERED PRIVATE PLACEMENT

Blue Sky Uranium Corp. has closed the non-brokered private placement through the issuance of 5,793,333 units at a subscription price of 15 cents per unit for aggregate gross proceeds to the company of $868,999.95.

Each unit will consist of one common share and one transferrable common share purchase warrant. Each warrant will entitle the holder thereof to purchase one additional common share in the capital of the company at 25 cents per share for two years from the date of issue.

The proceeds of the financing will be used for exploration programs on the company’s projects in Argentina and for general working capital.

Certain insiders of the company participated in the private placement for $4,500 in units. Such participation represents a related-party transaction under Multilateral Instrument 61-101, but the transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the subject matter of the transaction, nor the consideration paid, exceed 25 per cent of the company’s market capitalization.

This financing is subject to regulatory approval and all securities to be issued pursuant to the financing are subject to a four-month hold period expiring on Feb. 23, 2020.

About Blue Sky Uranium Corp.

Blue Sky Uranium is a leader in uranium discovery in Argentina. The company’s flagship Amarillo Grande project was an in-house discovery of a new district that has the potential to be both a leading domestic supplier of uranium to the growing Argentine market and a new international market supplier.

https://blueskyuranium.com/