In an announcement made on August 14, 2024, Vancouver-based Blue Sky Uranium Corp. (TSXV: BSK) (FSE: MAL2) disclosed plans for a non-brokered private placement offering. The company intends to sell a minimum of 20,000,000 units, each priced at $0.045, with aggregate gross proceeds estimated at $900,000. Additionally, there is a provision for the sale of a maximum of 21,000,000 units at the same offering price, bringing the total gross proceeds to $945,000. As part of the offering, Red Cloud Securities Inc. will serve as the finder.
Each unit offered will comprise one common share in the company and one transferable common share purchase warrant. The warrant will allow the holder to purchase an additional common share at an exercise price of $0.06 per warrant share over a period of four years from the unit’s issue date.
Company President and CEO, Nikolaos Cacos, highlighted a definitive agreement with Corredor Americano S.A. (COAM) as instrumental in securing funding for the Ivana Deposit with a free carry for Blue Sky. This strategic transaction is expected to propel Blue Sky Uranium towards production with the backing of a significant player in Argentina.
The funding from the private placement will support continued exploration activities on various targets, including recently acquired uranium projects, as well as for general working capital needs.
Investors interested in participating in the offering must adhere to applicable regulatory requirements. The company plans to utilize the proceeds for exploration programs on its projects in Argentina and for general operational purposes.
It is important to note that the securities offered have not been registered under the United States Securities Act of 1933 or any state securities laws, and thus cannot be offered or sold in the United States without complying with registration requirements or exemptions.
Blue Sky Uranium Corp. is a prominent figure in uranium exploration in Argentina and aims to create value for its shareholders by advancing uranium deposits into production while respecting environmental and community concerns. The company holds property rights in two provinces in Argentina and is part of the Grosso Group, a leading resource management group in Argentina.
The offering is subject to specific conditions, including regulatory approvals, with participation from company insiders, and potential payment of commissions to finders. The company remains committed to providing updates on its progress and maintaining transparency with investors.
