Blue Sky Uranium Closes Non-Brokered Private Placement
Blue Sky Uranium Closes Non-Brokered Private
Placement
TSX Venture Exchange: BSK
Frankfurt Stock Exchange: MAL2
OTCQB Venture Market (OTC): BKUCF
VANCOUVER
,
Oct. 23, 2019
/CNW/ -
Blue Sky Uranium Corp. (TSX-V: BSK, FSE: MAL2; OTC: BKUCF), ("Blue
Sky" or the "Company")
is pleased to announce it has closed the non-brokered private placement (the "
Private
Placement
") through the issuance of 5,793,333 units ("
Units
") at a subscription price of
$0.15
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 (the "Units").
Each warrant will entitle the holder thereof to purchase one additional common share in the capital of the Company at
$0.25
per share for two (2) 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 - Protection of Minority Security Holders
in Special Transactions ("MI 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% 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
February 23, 2020
.
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'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. 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.
The securities being offered have not been, nor will they be registered under the United States Securities Act of
1933, as amended, or state securities laws and may not be offered or sold within
the United States
or to, or for the
account or benefit of, U.S. persons absent U.S. federal and state registration or an applicable exemption from the
U.S. registration requirements. This release does not constitute an offer for sale of securities in
the United States
.
View original content to download multimedia:
http://www.prnewswire.com/news-releases/blue-sky-uranium-closes-non-brokered-private-placement-300943594.html
SOURCE
Blue Sky Uranium Corp.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/October2019/23/c2863.html
%SEDAR: 00023601E
For further information:
Corporate Communications, Tel: 1-604-687-1828, Toll-Free: 1-800-901-0058, Email:
CO: Blue Sky Uranium Corp.
CNW 09:30e 23-OCT-19