Blue Sky Announces $3.5 Million Non Brokered Private Placement
Blue Sky Uranium Corp. (TSX-V: BSK) (the "Company") is pleased to announce a $3.5 million non-brokered private placement financing consisting of 14 million units, at a price of $0.25 cents per unit, subject to regulatory approval. Each unit will consist of one common share and one half common share purchase warrant. Each full warrant will entitle the holder thereof to purchase one additional common share in the capital of the company at a price of $0.35 cents per share for 24 months from the date of issue of the warrant. If the closing price for the Company's common shares is $0.60 or greater for a period of 15 consecutive trading days, then the warrantholders will have 20 days to exercise their warrants; otherwise the warrants will expire on the 21st day. Directors, officers and employees of the company may participate in a portion of the financing.
This financing is subject to regulatory approval and a four-month hold period. A commission may be paid related to this transaction. The proceeds from this financing will be used for further exploration and development of the Company's property portfolio in Argentina and for general working capital.
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.
About Blue Sky Uranium Corp.
Blue Sky Uranium Corp. is dedicated to actively exploring the Patagonia region of Argentina. Experienced management and technical members, who foster relationships with a vast amount of international industry contacts, lead the exploration team on the search for quality resource opportunities. Blue Sky is a member of the Grosso Group, a resource management group with over 15 years experience in exploring South America.
ON BEHALF OF THE BOARD
"Sean Hurd"
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Mr. Sean Hurd, President & CEO
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release. Cautionary Note to US Investors: This news release may contain information about adjacent properties on which we have no right to explore or mine. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.