11:48 AM EDT, 04/17/2024 (MT Newswires) -- Blue Sky Uranium ( BKUCF ) said Wednesday it is raising C$1 million in a private placement of share units.

The company said it is looking to place 16.67-million units in the financing, with each priced at C$0.06 and made up of a share and a warrant exercisable at C$0.09 per share for two years.

Blue Sky plans to use the proceeds for exploration programs on the its projects in Argentina and for general working capital. The company is focused on advancing its flagship Amarillo Grande project.

Blue Sky shares were last seen down C$0.005 to C$0.07 on the TSX Venture Exchange.