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.
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SOURCE Blue Sky Uranium Corp.