Blue Sky Uranium Corp has announced the closing of the second tranche of its non-brokered private placement financing, generating gross proceeds of $906,750.
This tranche consisted of more than 6 million units priced at $0.15, each containing one common share and one transferrable common share purchase warrant. Warrants entitle their holders to purchase additional shares at a price of $0.25.
In this tranche, finder’s fees of $45,465 are payable in cash on a portion of the private placement to parties at arm’s length to the company. Additionally, 303,100 non-transferable finder’s warrants are being issued, the company said.
READ: Blue Sky Uranium doubles size of non-brokered private placement due to high investor demand
The company said it plans to use the proceeds on exploration programs for its projects in Argentina and for general working capital. The private placement was originally announced on May 24 and increased on June 8 to a total of $2.1 million.
No insiders of Blue Sky Uranium participated in this tranche of the private placement, the company said.
Blue Sky Uranium has the exclusive right to properties in two provinces in Argentina. The company's flagship Amarillo Grande Project was an in-house discovery of a new district that has the potential to be both a leading domestic supplier of uranium to the growing Argentine market and a new international market supplier.
The company is a member of the Grosso Group, a resource management group that has pioneered exploration in Argentina since 1993.
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