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| | November 09, 2009
Blue Sky Closes Financing with Lumina Capital
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| | Blue Sky Uranium Corp. (TSX-V: BSK, WKN: AOMKXP) is pleased to announce the closing of a non-brokered private placement of 5.5 million units at a price of $0.22 per unit for gross proceeds of $1,210,000. Lumina Capital Limited Partnership subscribed for $1,000,000 of the private placement.
Each unit consists of one common share and one common share purchase warrant. Each share purchase warrant will entitle the holder to purchase one common share at a price of $0.30 for a period of two years. The financing received regulatory approval November 6, 2009. All securities to be issued pursuant to the private placement are subject to a four month hold period under applicable Canadian securities laws. Lumina Capital will retain the right to maintain its percentage interest in Blue Sky through proportionate investments in future financings.
The proceeds from this financing will be used to explore and develop Blue Sky's uranium property portfolio in Argentina and for general working capital requirements.
Finders' fees are payable on a portion of the private placement to parties arm's length to the Company, as follows: Salman Partners Inc. -- 296,296 common shares and 363,636 warrants that are exercisable into common shares at 30 cents per share for a two-year term; Dundee Securities Corporation -- 14,797 common shares and 18,160 warrants that are exercisable into common shares at 30 cents per share for a two-year term. Insider Ronald McMillan subscribed for 90,000 units of the private placement.
About Blue Sky Uranium Corp.
Blue Sky Uranium Corp. is dedicated to actively exploring the Patagonia region of Argentina. Experienced management and technical members, who foster relationships with a vast amount of international industry contacts, lead the exploration team on the search for quality resource opportunities. Blue Sky is a member of the Grosso Group, a resource management group with over 15 years experience in exploring South America.
ON BEHALF OF THE BOARD
"Sean Hurd"
Mr. Sean Hurd, President & CEO
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release. Cautionary Note to US Investors: This news release may contain information about adjacent properties on which we have no right to explore or mine. 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. 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. |
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| | You can view the Next News Releases item: Thu Nov 12, 2009, Blue Sky Provides Exploration Update
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