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
OR THROUGH U.S. NEWSWIRE
SERVICES./
TSX Venture Exchange: BSK
Frankfurt Stock Exchange: MAL2
OTCQB Venture Market (OTC): BKUCF
VANCOUVER, BC
,
July 12, 2023
/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
June 8, 2023
, consisting of 7,861,032 units in this tranche at a price of
$0.075
per unit for gross
proceeds of
$589,577.40
. In total the Company issued 21,333,333 units for total gross proceeds of
$1,600,000
.
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
$0.12
per share for three years from the date of issue,
expiring on
July 12, 2026
, in this 2
nd
and final tranche.
The Units issued under the Offering were offered to purchasers pursuant to the listed issuer
financing exemption ("
LIFE
") under Part 5A of National Instrument 45-106 –
Prospectus Exemptions
in all the provinces of
Canada
, except Québec, and in certain other jurisdictions pursuant to
applicable securities laws. The LIFE Units will not be subject to resale restrictions pursuant to
applicable Canadian securities laws. There is an offering document relating to the Offering that can
be accessed under the Company's profile at
www.sedar.com
and on the Company's website at
www.blueskyuranium.com
.
In this tranche, finder's fees of
$40,062.92
were paid in cash on a portion of the private placement
to parties at arm's length to the Company. In addition, 534,172 non-transferable finder's warrants
were issued (the "
Finder's
Warrant
"). Each Finder's Warrant entitles a finder to purchase one
common share at a price of
$0.075
per share for three years from the date of issue, expiring on
July
12, 2026
. In total, cash finder's fees of
$84,636.82
were paid and 1,128,490 Finder's Warrants
were issued. The news release dated
June 19, 2023
had an incorrect exercise price of
$0.12
for the
Finder's Warrants. The correct exercise price is
$0.075
for the Finder's Warrants.
The proceeds of the financing will be used for exploration programs on the Company's projects in
Argentina
and for general working capital.
Closing of the Offering is subject to certain conditions including, but not limited to, the receipt of all
necessary approvals, including but not limited to, the approval of the TSX Venture Exchange (the
"
Exchange
").
Further to a news release dated
July 10, 2023
announcing the engagement of Investing News
Network, the
$32,400
for the services will be paid equally during the term of the agreement.
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 offered were not, 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
.
This news release may contain forward-looking statements. Forward-looking statements address
future events and conditions and therefore involve inherent risks and uncertainties. All statements,
other than statements of historical fact, that address activities, events or developments the
Company believes, expects or anticipates will or may occur in the future, including, without
limitation, statements about the closing of the Offering, the Company's plans for its mineral
properties; the Company's business strategy, plans and outlooks; the future financial or operating
performance of the Company; and future exploration and operating plans are forward-looking
statements.
Forward-looking statements are subject to a number of risks and uncertainties that may cause the
actual results of the Company to differ materially from those discussed in the forward-looking
statements and, even if such actual results are realized or substantially realized, there can be no
assurance that they will have the expected consequences to, or effects on, the Company. Factors
that could cause actual results or events to differ materially from current expectations include,
among other things: the impact of COVID-19; risks and uncertainties related to the ability to obtain
necessary approvals, including Exchange approval for the closing of the Offering, the ability to
obtain, amend, or maintain licenses, permits, or surface rights; risks associated with technical
difficulties in connection with mining activities; and the possibility that future exploration,
development or mining results will not be consistent with the Company's expectations.
Actual
results may differ materially from those currently anticipated in such statements. Readers are
encouraged to refer to the Company's public disclosure documents for a more detailed discussion
of factors that may impact expected future results. The Company undertakes no obligation to
publicly update or revise any forward-looking statements, unless required pursuant to applicable
laws.
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 07:00e 12-JUL-23