Blue Sky Uranium Corp said it has closed the oversubscribed second and final tranche of its previously announced non-brokered private placement for total gross proceeds of $1,816,100.
The company said in the second tranche it issued 1,381,000 units at a price of $0.10 each for gross proceeds of $138,100.
Each unit consists of one share and one transferable share purchase warrant that entitles the holder to purchase an additional share at a price of $0.20 per share for two years from the date of issue.
READ: Blue Sky Uranium closes first tranche of non-brokered private placement for aggregate gross proceeds of $1,678,000
The proceeds of the financing will be used for exploration programs on the company’s Argentina projects for general working capital, Blue Sky said.
"The closing of this expanded financing ensures the exploration program at Amarillo Grande Uranium/Vanadium Project continues uninterrupted," commented Blue Sky CEO Nikolaos Cacos.
"We have an opportunity to discover multiple deposits over this vast 145km long project area and to define a globally significant uranium district."
Blue Sky Uranium 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, communities, and culture in all areas where it works.
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