Blue Sky Uranium Completes Warrant Exercise Incentive Program
Blue Sky Uranium Completes Warrant Exercise Incentive
Program
VANCOUVER, BC
,
Oct. 26, 2021
/CNW/ -
Blue Sky Uranium Corp.
(TSXV: BSK) (FSE: MAL2) (OTC: BKUCF),
"Blue
Sky" or the "Company")
is pleased to announce that pursuant to the Company's warrant exercise incentive program (the
"
Incentive Program
") as announced on
October 7, 2021
, certain warrant holders have exercised a total of 4,760,000
warrants for total gross proceeds to the Company of
$1,190,000
.
The Company has issued 4,760,000 common shares through the exercise of the original warrants and issued 4,760,000
incentive warrants. Each incentive warrant entitles the holder to acquire an additional common share of the Company at a
price of
$0.35
per share until
October 23, 2024
. The incentive warrants and any shares issued upon exercise of the incentive
warrants are subject to a hold period expiring four months plus a day from issuance. Funds raised will be used for working
capital and exploration on properties.
A portion of the Placement Warrants, eligible for participation in the Incentive Program, are held by insiders of the Company.
Participation by any such insiders in the Incentive Program may constitute a related party transaction pursuant to Multilateral
Instrument 61-101 – Special Transactions ("
MI 61-101
"). The Company is exempt from the formal valuation requirement
pursuant to subsections 5.5(a) and (b) of MI 61-101, and from the minority approval requirement pursuant to subsection
5.7(1)(a) of MI 61-101
The balance of the 5,793,333 warrants that were not exercised under the Incentive Program expired on
October 23, 2021
.
The Company will now apply to the TSX Venture Exchange for final acceptance to close the Incentive Program.
The Company intends to use the proceeds from the exercise of any Placement Warrants for working capital and exploration
on its properties in
Argentina
.
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.
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SOURCE
Blue Sky Uranium Corp.
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For further information:
please contact: Corporate Communications, Tel: 1-604-687-1828, Toll-Free: 1-800-901-0058,
Email: [email protected]
CO: Blue Sky Uranium Corp.
CNW 07:00e 26-OCT-21