VANCOUVER, British Columbia, Aug. 15, 2018 (GLOBE NEWSWIRE) -- Blue Sky Uranium Corp. (TSX-V: BSK, FSE: MAL2; OTC: BKUCF), ("Blue Sky" or the "Company") announces that the Company has made an application to the TSX Venture Exchange to extend the term of the outstanding warrants as follows:
- 4,180,966 warrants that are set to expire on September 19, 2018 to be extended to September 19, 2019. 4,246,755 warrants were originally issued on September 19, 2016 as part of the units issued under a private placement completed by the Company in September 2016. Subsequent to the issuance, 65,789 warrants were cancelled. The warrants are also subject to an accelerator (see text below).
The exercise price of the warrants will remain at $0.50. Each whole warrant, when exercised, will be exchangeable for one common share of the Company.
The Warrant exercise period may be accelerated if the volume weighted average price (“VWAP”) for the Company’s common shares on the Exchange is $0.80 or greater for a period of 10 consecutive trading days, then the Company may deliver a notice (the "Notice") to the Warrant holder notifying such Warrant holder that the Warrants must be exercised within 20 days from the date of delivery of such Notice, otherwise the Warrants will expire at 4:30 p.m. (Vancouver time) on the 21st day after the date of delivery of the Notice.
The amendment is subject to the approval of the TSX Venture Exchange (“TSXV”).
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. Blue Sky has the exclusive right to over 434,000 hectares (equiv. to 1,072,437 acres) of property 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, President, CEO and Director
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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.
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. Readers are encouraged to refer to the Company's public disclosure documents for a more detailed discussion of factors that may impact expected future results. The Company undertakes no obligation to publicly update or revise any forward-looking statements. 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.