Blue Sky Uranium Oversubscribed - Company Closes Non-Brokered Private Placement

VANCOUVER, British Columbia, June 12, 2018 (GLOBE NEWSWIRE) -- Blue Sky Uranium Corp. (TSX-V:BSK) (FSE:MAL2) (OTC:BKUCF), ("Blue Sky" or the "Company") is pleased to announce it has closed the first tranche of the non-brokered private placement financing announced on June 1, 2018 and increased on June 4, 2018 consisting of 23,479,016 units at a price of $0.14 per unit for gross proceeds of $3,287,062.

Each unit will consist of one common share and one transferrable common share purchase warrant. Each warrant will entitle the holder thereof to purchase one additional common share in the capital of the Company at $0.30 per share for two years from the date of issue, expiring on June 11, 2020.

Finder’s fees of $135,769.36 are payable in cash on a portion of the private placement to parties at arm’s length to the Company.  In addition, 969,781 non-transferable finder’s warrants are issuable (the “Finder’s Warrants”). Each Finder’s Warrant entitles a finder to purchase one common share at a price of $0.30 per share for two years from the date of issue, expiring on June 11, 2020. 

The proceeds of the financing will be used for exploration programs on the Company’s projects in Argentina and for general working capital.

This financing is subject to regulatory approval and all securities to be issued pursuant to the financing are subject to a four-month hold period expiring on October 11, 2018.

About Blue Sky Uranium Corp.

Blue Sky Uranium Corp. 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. Blue Sky has the exclusive right to over 434,000 hectares (equiv. to 1,072,437 acres) of property 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.

ON BEHALF OF THE BOARD

“Nikolaos Cacos”

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Nikolaos Cacos, President, CEO and Director

For further information please contact:

Corporate Communications

Tel: 1-604-687-1828

Toll-Free: 1-800-901-0058

Email: 

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