Blue Sky Uranium Corp. (TSX-V:BSK, OTCQB:BKUCF) told investors it has closed its previously announced fully-subscribed private placement for proceeds of $1.05 million by issuing 21 million units at $0.05 each.
Each unit consisted of a share and a transferable share purchase warrant entitling the holder to purchase an additional share at $0.05 for four years.
It will pay finders fees of $47,202.40 in cash on a portion of the offering to parties at arm’s length of the company.
It will also issue 944,048 non-transferable finder’s warrants to the finders allowing the holder to purchase a share at $0.05 for four years from the date of issue.
Certain insiders participated in the financing for $20,000 in units.
The Argentina-focused uranium explorer plans to use the proceeds for exploration programs, including the recently acquired in-situ recovery uranium projects in Argentina and for general working capital.