/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 2nd 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 2nd 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.