Blue Sky Uranium Applies to Extend Warrants

Rhea-AI Summary

Blue Sky Uranium has applied to the TSX Venture Exchange to extend the term of its outstanding warrants. The extension would affect 16,780,000 warrants expiring December 2, 2024, and 1,381,000 warrants expiring December 19, 2024, pushing both expiration dates to 2027. These warrants were issued during a private placement in December 2022 and maintain their exercise price of $0.20. Of the total, 200,000 warrants are held by company insiders, constituting a related party transaction under MI 61-101, though exempted from certain requirements as it represents less than 25% of market capitalization.

Positive

• None.

Negative

• None of the previously issued warrants have been exercised, indicating potential lack of investor interest at current price levels
• Warrant extension could signal company's difficulty in raising capital through traditional means

TSX Venture Exchange: BSK
Frankfurt Stock Exchange: MAL2
OTCQB Venture Market (OTC): BKUCF

VANCOUVER, BC, Nov. 18, 2024 /PRNewswire/ - Blue Sky Uranium Corp. (TSXV: BSK) (FSE: MAL2) (OTC: BKUCF), ("Blue Sky" or the "Company") announces that it has made an application to the TSX Venture Exchange to extend the term of the outstanding warrants (the "Warrants") as follows:

• 16,780,000 Warrants and 1,381,000 Warrants that are set to expire on December 2 and December 19, 2024 respectively to be extended to December 2 and December 19, 2027 respectively. These Warrants were originally issued under a private placement completed by the Company in 2 Tranches in December 2022. None of the Warrants have been exercised.

The exercise price of the Warrants will remain at $0.20. Each Warrant, when exercised, will be exchangeable for one common share of the Company.

The Company further reports that 200,000 Warrants are held by insiders of the Company. As such, the extension of such Warrants constitutes, to that extent, a "related party transaction" within the meaning of Exchange Policy 5.9 and Multilateral Instrument 61-101 – Protection of Minority Shareholders ("MI 61-101"). The Company has relied on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 (and Exchange Policy 5.9), as the fair market value of the Warrants held by the insiders does not exceed 25% of the market capitalization of the Company.

The amendment is subject to the approval of the TSX Venture Exchange.

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.

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SOURCE Blue Sky Uranium Corp.

FAQ

How many warrants is Blue Sky Uranium (BKUCF) extending in November 2024?

Blue Sky Uranium is extending a total of 18,161,000 warrants, consisting of 16,780,000 warrants expiring December 2, 2024, and 1,381,000 warrants expiring December 19, 2024.

What is the new expiration date for Blue Sky Uranium's (BKUCF) extended warrants?

The warrants will be extended to December 2 and December 19, 2027, respectively.

What is the exercise price of Blue Sky Uranium's (BKUCF) extended warrants?

The exercise price of the warrants will remain unchanged at $0.20 per share.