TSX Venture Exchange: BSK
Frankfurt Stock Exchange: MAL2
OTCQB Venture Market (OTC): BKUCF
VANCOUVER, BC, Sept. 29, 2021 /CNW/ - Blue Sky Uranium
Corp. (TSXV: BSK) (FSE: MAL2) (OTC: BKUCF), "Blue Sky" or
the "Company") announces that the Company has entered into
an agreement (the "Agreement") with AGV Falcon Drilling
S.R.L. ("AGV"), an arm's length party, pursuant to which the
Company has agreed to issue common shares in the capital of the
Company (each, a "Common Share") in satisfaction of ongoing
drilling services provided by AGV (the "Services") in the
Ivana Central and Norte Projects located in the Province of
Rio Negro, Argentina. It is
expected that Blue Sky will owe AGV up to an aggregate of
US$590,265 as payment for the
Services, depending on the number of meters drilled, which is
expected to be settled by the issuance of a maximum of 6,356,700
Common Shares in three tranches.
![Blue Sky Uranium Corp. Logo (CNW Group/Blue Sky Uranium Corp.) Blue Sky Uranium Corp. Logo (CNW Group/Blue Sky Uranium Corp.)](https://mma.prnewswire.com/media/1639114/Blue_Sky_Uranium_Corp__Blue_Sky_Uranium_Announces_Shares_for_Ser.jpg)
The Company has received an initial invoice in the amount of
$343,843.20 from AGV for
Services performed from August 1,
2021 to August 31, 2021 (the
"Initial Services"). The Company proposes to issue
1,666,714 Common Shares (the "Shares") to AGV at a deemed
issue price of $0.2063 per Share
in settlement of the Initial Services. The Agreement, the
proposed issuance of the Shares and future issuances of Common
Shares pursuant to the Agreement are subject to the acceptance of
the Exchange.
The Company has a right of first refusal until January 20, 2024 to arrange for the purchase from
AGV of any Common Shares issued pursuant to the Agreement, and all
Common Shares issued pursuant to the Agreement will be held in
escrow by the Company for a period of the earlier of: (i)
January 20, 2024; or (ii) the date of
completion of the Services.
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 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.
FORWARD LOOKING STATEMENTS: Certain
statements contained in this press release may constitute
forward-looking statements under Canadian securities legislation.
Generally, forward-looking information can be identified by the use
of forward-looking terminology such as "expects" or "it is
expected", or variations of such words and phrases or statements
that certain actions, events or results "will" occur. This document
contains statements about expected or anticipated future events
and/or financial results that are forward-looking in nature and as
a result, are subject to certain risks and uncertainties, such as
general economic, market and business conditions, regulatory
processes and actions, technical issues, new legislation,
competitive conditions, the uncertainties resulting from potential
delays or changes in plans, the occurrence of unexpected events and
the Company's ability to execute and implement its future plans.
Forward-looking statements in this press release include, but are
not limited to, the completion of the issuance of the Shares and
the approval of the Exchange to the Agreement, to the issuance of
the Shares and to the future issuance of Common Shares pursuant to
the Agreement. Factors that could cause actual results to differ
materially from those in forward-looking statements include that
the Company does not complete all or any part of the issuance of
the Shares or the Company does not receive regulatory acceptance to
the issuance of the Agreement, the issuance of the Shares or the
future issuance of Common Shares pursuant to the Agreement.
Accordingly the actual events may differ materially from those
projected in the forward-looking statements. When relying on
forward-looking statements to make decisions, investors and others
should carefully consider the foregoing factors and other
uncertainties and should not place undue reliance on such
forward-looking statements. The Company does not undertake to
update any forward looking statements, except as may be required by
applicable securities laws.
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SOURCE Blue Sky Uranium Corp.