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Blue Sky Uranium Completes Warrant Exercise Incentive Program
Blue Sky Uranium Completes Warrant Exercise Incentive Program PR Newswire ...
About this update from Blue Sky Uranium Corp.
[{"type":"text","content":"\n \n \n \n Blue Sky Uranium Completes Warrant Exercise Incentive Program\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n PR Newswire\n \n \n \n \n \n VANCOUVER, BC\n \n ,\n \n Oct. 26, 2021\n \n /PRNewswire/ -\n \n Blue Sky Uranium Corp.\n \n (TSXV: BSK) (FSE: MAL2) (OTC: BKUCF),\n \n \"Blue Sky\" or the \"Company\")\n \n is pleased to announce that pursuant to the Company's warrant exercise incentive program (the \"\n \n Incentive Program\n \n \") as announced on\n \n October 7, 2021\n \n , certain warrant holders have exercised a total of 4,760,000 warrants for total gross proceeds to the Company of\n \n $1,190,000\n \n .\n \n \n The Company has issued 4,760,000 common shares through the exercise of the original warrants and issued 4,760,000 incentive warrants. Each incentive warrant entitles the holder to acquire an additional common share of the Company at a price of\n \n $0.35\n \n per share until\n \n October 23, 2024\n \n . The incentive warrants and any shares issued upon exercise of the incentive warrants are subject to a hold period expiring four months plus a day from issuance. Funds raised will be used for working capital and exploration on properties.\n \n \n A portion of the Placement Warrants, eligible for participation in the Incentive Program, are held by insiders of the Company. Participation by any such insiders in the Incentive Program may constitute a related party transaction pursuant to Multilateral Instrument 61-101 – Special Transactions (\"\n \n MI 61-101\n \n \"). The Company is exempt from the formal valuation requirement pursuant to subsections 5.5(a) and (b) of MI 61-101, and from the minority approval requirement pursuant to subsection 5.7(1)(a) of MI 61-101\n \n \n The balance of the 5,793,333 warrants that were not exercised under the Incentive Program expired on\n \n October 23, 2021\n \n .\n \n \n The Company will now apply to the TSX Venture Exchange for final acceptance to close the Incentive Program.\n \n \n The Company intends to use the proceeds from the exercise of any Placement Warrants for working capital and...