Blue Sky Uranium Corp. (TSX-V:BSK, OTCQB:BKUCF) said it has made an application to the TSX Venture Exchange to extend the term of its outstanding warrants.
The company, a leader in uranium discovery in Argentina, is seeking to extend the expiry dates for 4,203,182 unexercised warrants by two years to June 4 and July 11, 2024, respectively. The exercise price of the warrants will remain at $0.25 and each warrant, when exercised, will be exchangeable for one common share of the company.
The warrants were originally issued under a private placement completed in two tranches in June and July 2019, the company said, adding that of the 325,000 warrants that have been exercised, 100,000 were exercised by one shareholder within the past six months.
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The company noted that at the request of the TSX Venture Exchange, it has received the consent of this shareholder for the extension.
If the volume-weighted average price of the company's shares is $0.50 or greater for a period of five consecutive trading days, the company may deliver a notice to the warrant holders that the warrants must be exercised within 20 days from the date of delivery of the notice. Otherwise, the warrants will expire at 4.30pm in Vancouver 21 days after the date of delivery of the notice.
The amendment is subject to the approval of the TSX Venture Exchange.
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