Blue Sky Uranium Corp (OTCMKTS:BKUCF) was up 3% after announcing an agreement with AGV Falcon Drilling S.R.L.
According to the agreement, Blue Sky will issue stock of its common shares to AGVfor its drilling services at then Norte and Ivana Central projects in Rio Negro province of Argentina. Terms of the agreement show that Blue Sky will owe a total of $590,265 as payment to AGV for the drilling services depending on the depth drilled, which it will settle by issuing around 6.3567 million shares of its capital in three parts.
Already AGV has issued the company with an invoice for the services conducted in August 2021. The company plans to issues 1.667 million common shares to AGV at $0.2063 per share to settle the payment for the initial services. As per the agreement, this proposed share issuance will be subject to exchange approval. Therefore, investors should keep an eye on BKUCF in the coming months.
Market Reaction:
On Wednesday, BKUCF stock moved up 3.50% at $0.2199 with more than 178K shares, compared to its average volume of 188K shares. The stock has moved within a range of $0.2100 – 0.2317 after opening the trade at $0.21.
