Blue Sky Uranium (TSXV:BSK) has announced a non-brokered private placement financing of 38 million units at a price of $0.05 per unit for gross proceeds of $1.9 million.

As quoted in the press release:

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 $0.10 per share for two years from the date of issue. The issued shares will be subject to voluntary pooling restrictions.

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 under applicable Canadian securities laws. Directors, officers and employees of the Company may participate in a portion of the financing. A commission may be paid on a portion of the financing. The proceeds of the financing will be used for general working capital.

Click here to read the full press release.

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