Blue Sky Uranium Corp. (TSXV: BSK, FSE: MAL2; OTC: BKUCF) has entered into an agreement with AGV Falcon Drilling S.R.L. pursuant to which the company has agreed to issue common shares in satisfaction of ongoing drilling services provided by AGV in the Ivana Central and Norte Projects located in the Province of Rio Negro, Argentina.
It is expected that Blue Sky will owe AGV up to an aggregate of US$590,265 as payment for the Services, depending on the number of meters drilled, which is expected to be settled by the issuance of a maximum of 6,356,700 Common Shares in three tranches.
The company has received an initial invoice in the amount of $343,843.20from AGV for Services performed from August 1, 2021 to August 31, 2021.
The company proposes to issue 1,666,714 Common Shares to AGV at a deemed issue price of $0.2063per Share in settlement of the Initial Services. The Agreement, the proposed issuance of the Shares and future issuances of Common Shares pursuant to the Agreement are subject to the acceptance of the Exchange.
The Company has a right of first refusal until January 20, 2024 to arrange for the purchase from AGV of any Common Shares issued pursuant to the Agreement, and all Common Shares issued pursuant to the Agreement will be held in escrow by the company for a period of the earlier of: (i) January 20, 2024; or (ii) the date of completion of the Services.
For further information please visit: https://blueskyuranium.com/