Blue Sky Uranium Increases and Closes 2nd and Final Tranche of Non-Brokered Private Placement
Blue Sky Uranium Increases and Closes 2nd
and Final Tranche of Non-Brokered Private
Placement
/NOT FOR DISTRIBUTION TO
THE UNITED STATES
/
VANCOUVER, BC
,
Dec. 20, 2022
/CNW/ -
Blue Sky Uranium Corp.
(TSXV: BSK) (FSE: MAL2)
(OTC: BKUCF)
, "Blue Sky" or the "Company")
is pleased to announce it has closed the
oversubscribed 2
nd
and final tranche of the non-brokered private placement financing announced on
November 21, 2022
and increased on
December 1, 2022
, consisting of 1,381,000 units in this
tranche at a price of
$0.10
per unit for gross proceeds of
$138,100
. In total the Company issued
18,161,000 units for total gross proceeds of
$1,816,100
.
"
The closing of this expanded financing ensures the exploration program at Amarillo Grande
Uranium/Vanadium Project continues uninterrupted,
" stated
Nikolaos Cacos
, President and CEO.
"
We have an opportunity to discover multiple deposits over this vast 145km long project area and
to define a globally significant uranium district.
"
Each unit consists of one common share and one transferrable common share purchase warrant
(the "
Warrant
"). Each Warrant will entitle the holder thereof to purchase one additional common
share in the capital of the Company at
$0.20
per share for two years from the date of issue, expiring
on
December 19, 2024
, in this 2
nd
and final tranche.
In this tranche, finder's fees of
$3,052
are payable in cash on a portion of the private placement to
parties at arm's length to the Company. In addition, 30,520 non-transferable finder's warrants are
being issued (the "
Finder's
Warrant
"). Each Finder's Warrant entitles a finder to purchase one
common share at a price of
$0.20
per share for two years from the date of issue, expiring on
December 19
, 2024. In total, cash finder's fees of
$61,782
were paid and 617,820 Finder's
Warrants were issued.
No insiders of the Company participated in this tranche of the Private Placement. In total, insiders
participated for
$20,000
in this private placement. 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.
The proceeds of the financing will be used for exploration programs on the Company's projects in
Argentina
and for general working capital.
This financing is subject to regulatory approval and all securities to be issued pursuant to this tranche
of the financing are subject to a four-month hold period expiring on
April 19, 2023
.
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
.
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 12:31e 20-DEC-22