Blue Sky Uranium Announces Shares for Services Agreement and Proposed Share Issuance
Blue Sky Uranium Announces Shares for Services Agreement and
Proposed Share Issuance
TSX Venture Exchange: BSK
Frankfurt Stock Exchange: MAL2
OTCQB Venture Market (OTC): BKUCF
VANCOUVER, BC
,
Sept. 29, 2021
/CNW/ -
Blue Sky Uranium Corp.
(TSXV: BSK) (FSE: MAL2) (OTC: BKUCF)
, "Blue Sky" or the
"Company")
announces that the Company has entered into an agreement (the "
Agreement
") with AGV Falcon Drilling S.R.L. ("
AGV
"), an arm's length
party, pursuant to which the Company has agreed to issue common shares in the capital of the Company (each, a "
Common Share
") in satisfaction of
ongoing drilling services provided by AGV (the "
Services
") in the Ivana Central and Norte Projects located in the Province of
Rio Negro
, Argentina. It is
expected that Blue Sky will owe AGV up to an aggregate of
US$590,265
as payment for the Services, depending on the number of meters drilled,
which is expected to be settled by the issuance of a maximum of 6,356,700 Common Shares in three tranches.
The Company has received an initial invoice in the amount of
$343,843
.20 from AGV for Services performed from
August 1, 2021
to
August 31, 2021
(the "
Initial Services
"). The Company proposes to issue 1,666,714 Common Shares (the "
Shares
") to AGV at a deemed issue price of
$0
.2063 per
Share in settlement of the Initial Services. The Agreement, the proposed issuance of the Shares and future issuances of Common Shares pursuant to
the Agreement are subject to the acceptance of the Exchange.
The Company has a right of first refusal until
January 20, 2024
to arrange for the purchase from AGV of any Common Shares issued pursuant to the
Agreement, and all Common Shares issued pursuant to the Agreement will be held in escrow by the Company for a period of the earlier of: (i)
January
20, 2024
; or (ii) the date of completion of the Services.
About Blue Sky Uranium Corp.
Blue Sky Uranium Corp. is a leader in uranium discovery in
Argentina
. The Company's objective is to deliver exceptional returns to shareholders by
rapidly advancing a portfolio of surficial uranium deposits into low-cost producers, while respecting the environment, the communities, and the cultures in
all the areas in which we work. Blue Sky has the exclusive right to properties in two provinces in
Argentina
. The Company is a member of the Grosso
Group, a resource management group that has pioneered exploration in
Argentina
since 1993.
ON BEHALF OF THE BOARD
"Nikolaos Cacos"
______________________________________
Nikolaos Cacos
, President, CEO and Director
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING STATEMENTS
: Certain statements contained in this press release may constitute forward-looking statements under
Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "expects"
or "it is expected", or variations of such words and phrases or statements that certain actions, events or results "will" occur. This document contains
statements about expected or anticipated future events and/or financial results that are forward-looking in nature and as a result, are subject to certain
risks and uncertainties, such as general economic, market and business conditions, regulatory processes and actions, technical issues, new
legislation, competitive conditions, the uncertainties resulting from potential delays or changes in plans, the occurrence of unexpected events and the
Company's ability to execute and implement its future plans. Forward-looking statements in this press release include, but are not limited to, the
completion of the issuance of the Shares and the approval of the Exchange to the Agreement, to the issuance of the Shares and to the future
issuance of Common Shares pursuant to the Agreement. Factors that could cause actual results to differ materially from those in forward-looking
statements include that the Company does not complete all or any part of the issuance of the Shares or the Company does not receive regulatory
acceptance to the issuance of the Agreement, the issuance of the Shares or the future issuance of Common Shares pursuant to the Agreement.
Accordingly the actual events may differ materially from those projected in the forward-looking statements. When relying on forward-looking
statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place
undue reliance on such forward-looking statements. The Company does not undertake to update any forward looking statements, except as may be
required by applicable securities laws.
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SOURCE
Blue Sky Uranium Corp.
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For further information:
Corporate Communications, Tel: 1-604-687-1828, Toll-Free: 1-800-901-0058, Email: [email protected]
CO: Blue Sky Uranium Corp.
CNW 15:38e 29-SEP-21