TSX Venture Exchange: BSK
Frankfurt Stock Exchange: MAL2
OTCQB Venture Market (OTC): BKUCF
VANCOUVER, BC, June 8, 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 1st tranche of the
non-brokered private placement (the "Private Placement")
through the issuance of 5,694,000 units at a subscription price of
$0.15 per unit for aggregate gross
proceeds to the Company of $854,100. The Company announced the private
placement on May 24, 2022.
Each unit consists 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 three (3) years from the date
of issue, expiring on June 7,
2025.
Finder's fees of $30,614.50 are
payable in cash on a portion of the private placement to parties at
arm's length to the Company. In addition, 204,097
non-transferable finder's warrants are being issued (the
"Finder's Warrants"). Each Finder's Warrant entitles
a finder to purchase one common share at a price of $0.25 per share for three (3) years from the date
of issue, expiring on June 7,
2025.
Certain insiders of the Company have participated in the Private
Placement for $10,000 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.
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 the financing are subject to a
four-month hold period expiring on October
7, 2022.
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.