Blue Sky Announces Mailing and Filing of Circular for Special Meeting of Shareholders to Approve the Earn-In Agreement with COAM
Blue Sky Uranium (BKUCF) has announced the mailing and filing of meeting materials for a special shareholder meeting on February 6, 2025, to vote on a transaction with COAM. The proposed earn-in agreement would grant COAM rights to acquire up to 80% indirect interest in the Ivana Uranium-Vanadium Deposit in Argentina.
Under the agreement terms, COAM can acquire a 49.9% interest by funding US$35 million in expenditures, and can increase to 80% ownership upon completing a feasibility study and funding development costs to commercial production. The transaction requires approval from at least 66 2/3% of shareholder votes.
The Board unanimously recommends voting FOR the transaction, citing benefits including partnership with Corporación América Group's expertise, advancement of the Ivana Property, and anti-dilution protection until commercial production. Shareholders must vote by proxy before 10:00 AM Vancouver Time on February 4, 2025.
Blue Sky Uranium (BKUCF) ha annunciato l'invio e il deposito dei materiali per l'incontro di un'assemblea straordinaria degli azionisti che si terrà il 6 febbraio 2025, per votare su una transazione con COAM. L'accordo proposto consentirebbe a COAM di acquisire fino all'80% di interesse indiretto nel Deposito di Uranio-Vanadio di Ivana in Argentina.
Secondo i termini dell'accordo, COAM può acquisire un interesse del 49,9% finanziano spese per 35 milioni di dollari, e può aumentare la proprietà fino all'80% completando uno studio di fattibilità e finanziando i costi di sviluppo fino alla produzione commerciale. La transazione richiede l'approvazione di almeno il 66 2/3% dei voti degli azionisti.
Il Consiglio raccomanda unanimemente di votare a favore della transazione, citando benefici come la partnership con l'expertise del Gruppo Corporación América, il progresso della Proprietà Ivana e la protezione contro la diluizione fino alla produzione commerciale. Gli azionisti devono votare per delega entro le 10:00 ora di Vancouver del 4 febbraio 2025.
Blue Sky Uranium (BKUCF) ha anunciado el envío y archivo de los materiales para la reunión extraordinaria de accionistas que se llevará a cabo el 6 de febrero de 2025, para votar sobre una transacción con COAM. El acuerdo propuesto permitiría a COAM adquirir hasta un 80% de interés indirecto en el Depósito de Uranio-Vanadio de Ivana en Argentina.
Según los términos del acuerdo, COAM puede adquirir un 49,9% de interés al financiar 35 millones de dólares en gastos, y puede aumentar su participación hasta el 80% al completar un estudio de viabilidad y financiar los costos de desarrollo hasta la producción comercial. La transacción requiere la aprobación de al menos el 66 2/3% de los votos de los accionistas.
La Junta recomienda unánimemente votar a favor de la transacción, citando beneficios como la asociación con la experiencia del Grupo Corporación América, el avance de la Propiedad Ivana y la protección contra la dilución hasta la producción comercial. Los accionistas deben votar por poder antes de las 10:00 AM hora de Vancouver el 4 de febrero de 2025.
블루 스카이 우라늄 (BKUCF)은 2025년 2월 6일에 COAM과의 거래에 대한 특별 주주총회 자료를 우편 발송하고 접수했다고 발표했습니다. 제안된 수익 분배 계약은 COAM이 아르헨티나 이바나 우라늄-바나듐 매장량에 대해 최대 80%의 간접 지분을 인수할 수 있는 권리를 부여합니다.
계약 조건에 따라 COAM은 3천5백만 달러의 지출을 지원하여 49.9%의 지분을 인수할 수 있으며, 상업 생산을 위해 개발 비용을 지원하고 타당성 조사를 완료하면 소유권을 80%로 증가할 수 있습니다. 이 거래는 최소 66 2/3%의 주주 투표 승인이 필요합니다.
이사회는 이번 거래의 투표에 대해 일치하여 찬성을 권장하며, 이는 Corporación América 그룹의 전문성과 이바나 자산의 발전 및 상업 생산 이전까지의 희석 방지 보호 등 여러 이점을 언급하고 있습니다. 주주는 2025년 2월 4일 오전 10:00 이전에 밴쿠버 시간으로 위임 투표를 해야 합니다.
Blue Sky Uranium (BKUCF) a annoncé l'envoi et le dépôt des documents pour une assemblée générale extraordinaire des actionnaires qui se tiendra le 6 février 2025, pour voter sur une transaction avec COAM. L'accord proposé permettrait à COAM d'acquérir jusqu'à 80% d'intérêt indirect dans le gisement d'uranium-vanadium d'Ivana en Argentine.
Selon les conditions de l'accord, COAM peut acquérir un intérêt de 49,9% en finançant 35 millions de dollars d'investissements, et peut augmenter sa participation à 80% après avoir réalisé une étude de faisabilité et financé les coûts de développement jusqu'à la production commerciale. La transaction nécessite l'approbation d'au moins 66 2/3% des voix des actionnaires.
Le Conseil recommande à l'unanimité de voter en faveur de la transaction, citant des avantages tels que le partenariat avec l'expertise du groupe Corporación América, l'avancement de la propriété d'Ivana, et la protection contre la dilution jusqu'à la production commerciale. Les actionnaires doivent voter par procuration avant 10h00, heure de Vancouver, le 4 février 2025.
Blue Sky Uranium (BKUCF) hat die Versendung und Einreichung der Unterlagen für eine außerordentliche Hauptversammlung am 6. Februar 2025 angekündigt, um über eine Transaktion mit COAM abzustimmen. Der vorgeschlagene Earn-in-Vertrag würde COAM das Recht einräumen, bis zu 80% indirektes Interesse an dem Uran-Vanadium-Lager Ivana in Argentinien zu erwerben.
Nach den Bedingungen des Vertrags kann COAM ein 49,9%iges Interesse erwerben, indem es 35 Millionen US-Dollar an Ausgaben finanziert, und kann die Eigentumsanteile auf bis zu 80% erhöhen, nachdem es eine Machbarkeitsstudie abgeschlossen und Entwicklungskosten bis zur kommerziellen Produktion finanziert hat. Die Transaktion erfordert die Genehmigung von mindestens 66 2/3% der Stimmen der Aktionäre.
Der Verwaltungsrat empfiehlt einstimmig, für die Transaktion zu stimmen, wobei Vorteile wie die Partnerschaft mit der Expertise der Corporación América Group, die Weiterentwicklung des Ivana-Besitzes und der Schutz vor Verwässerung bis zur kommerziellen Produktion angeführt werden. Die Aktionäre müssen bis zum 4. Februar 2025 um 10:00 Uhr nach Vancouver Zeit per Vollmacht abstimmen.
- Strategic partnership with Corporación América Group, bringing project development expertise in Argentina
- US$35 million investment commitment from COAM for 49.9% interest
- Free carry on development costs to commercial production
- Anti-dilution protection for shareholders until commercial production
- Funding for exploration of adjacent properties through Call Option
- Significant dilution of ownership interest up to 80% in the Ivana Property
- Requires 66 2/3% shareholder approval to proceed
Insights
This is a procedural update regarding a significant transaction approval process. Blue Sky Uranium is seeking shareholder approval for an earn-in agreement with COAM, potentially worth
Key strategic implications: 1) Partnership with Corporación América Group brings substantial regional expertise and financial backing for project development in Argentina. 2) The deal structure provides significant capital injection without immediate dilution, protecting shareholder value. 3) The transaction includes exploration funding for adjacent properties, creating potential for resource expansion.
The shareholder vote requirement of
The earn-in agreement represents a transformative deal for Blue Sky Uranium's Ivana Uranium-Vanadium project. The structure provides full funding through feasibility and into production while maintaining meaningful project ownership. The
The partnership with COAM, backed by Corporación América Group, brings critical local operational expertise in Argentina - a factor often overlooked but vital for successful mine development in South America. Their multi-sector experience in infrastructure and energy adds significant de-risking to future development plans.
Most notably, the anti-dilution protection through to commercial production is a valuable mechanism for preserving upside exposure while transferring development risk. This type of structure is relatively rare in junior mining deals and indicates strong negotiating position.
TSX Venture Exchange (TSX-V): BSK
Frankfurt Stock Exchange (FSE): MAL2
OTCQB Venture Market (OTC): BKUCF
- Your vote is important no matter how many shares you hold. Vote today.
- The Board of Directors of Blue Sky unanimously recommends that Shareholders vote IN FAVOUR of the Transaction Resolution
- Shareholders are encouraged to vote in advance of the proxy cutoff of 10:00 AM (Vancouver Time) on February 4, 2025
- For questions or assistance with voting, contact Laurel Hill Advisory Group by phone at 1-877-452-7184 (within
North America ) +1 416-304-0211 (outsideNorth America ), or by email at assistance@laurelhill.com
The purpose of the Meeting is for Shareholders to vote on a special resolution (the "Transaction Resolution") to approve the proposed Transaction (as defined below) with Abatare Spain, S.L.U. ("COAM"). As previously announced, on December 2, 2024, Blue Sky entered into a definitive earn-in agreement (the "Earn-In Agreement") with COAM and ACI Capital S.à r.l, as guarantor, pursuant to which the Company and its wholly owned subsidiaries Minera Cielo Azul S.A. ("MCA") and Ivana Minerals S.A. ("IMSA"), have granted to COAM the sole and exclusive right to acquire up to an
Under the terms of the Earn-In Agreement, COAM has been granted (i) a right to acquire a
The Transaction Resolution requires the approval of at least 66 2/
Reasons for and Benefits of the Transaction
The Company's board of directors (the "Board"), after careful consideration of a number of factors, has unanimously determined that the Transaction Resolution is in the best interests of the Company and the Shareholders and unanimously recommends that the Shareholders vote FOR the Transaction Resolution.
In forming its recommendation, the Board considered a number of factors, including:
- Strategic Investment Partner – Through the Transaction, the Company is partnering with one of the most capable groups in
Argentina . COAM, backed by the Corporación América Group, brings extensive experience in project development and operations withinArgentina . The Corporación América Group is a diversified conglomerate with significant investments acrossLatin America andEurope , encompassing sectors such as energy, airports, agribusiness, services, infrastructure, transportation, and technology. As a result of this strategic partnership, the Company may leverage COAM's expertise and resources to drive towards the successful development and operation of the project. - Advancement of Ivana Property Through Feasibility to Commercial Production – The Earn-In Agreement includes a commitment from COAM to make an initial investment of
US in exchange for a$35 million 49.9% interest in the Property. Upon completion of a Feasibility Study, the Company will benefit from free carry on the costs and expenditures necessary to achieve commercial production in exchange for an additional30.1% interest, subject to the terms and conditions of the Earn-In Agreement. The Transaction includes anti-dilution protection for the Company until commercial production, aimed to ensure shareholder value is preserved as the project advances. - Investment Towards Exploration at Adjacent Properties – The call option granted under the Transaction (the "Call Option") will help fund exploration activities at other highly prospective properties within the Company's portfolio. This funding will potentially clear the way for additional discoveries, build more resources and create value for Shareholders. Furthermore, the Company retains an ongoing interest in IMSA, aimed to ensure continued exposure to potential upside from exploration successes.
- Negotiated Transaction – The Board believes that the terms and conditions of the Earn-In Agreement are reasonable and are the product of extensive arm's length negotiations between the Company and its advisors, on the one hand, and COAM and its advisors, on the other hand.
YOUR VOTE IS IMPORTANT REGARDLESS OF THE NUMBER OF SHARES YOU OWN
Shareholders are encouraged to read the Circular in its entirety and vote their Shares as soon as possible, in accordance with the instructions accompanying the form of proxy or voting instruction form mailed to Shareholders together with the Circular.
The deadline for voting Shares by proxy is at 10:00 AM (Vancouver Time) on February 4, 2025.
The Circular includes full details on the Transaction and related matters, including the background to the Transaction, voting procedures, reasons for the Transaction, the recommendations of the Board, and the various factors considered by the Board in making their respective recommendations.
Shareholder Questions and Voting Assistance
Shareholders who have questions about voting their shares may contact the Company's proxy solicitation agent and shareholder communications advisor, Laurel Hill Advisory Group:
Toll Free: 1-877-452-7184 (for Shareholders in
International: +1 416-304-0211 (for Shareholders outside
By Email: assistance@laurelhill.com
About Abatare Spain, S.L.U. and ACI Capital S.à r.l,
Abatare Spain, S.L.U., a company constituted in
Abatare Spain S.L.U. has been involved in several projects related to the energy industry.
Corporación América has developed significant projects and invested in
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, while respecting the environment, the communities, and the cultures in all the areas in which we work. Blue Sky has the exclusive right to properties 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
ON BEHALF OF THE BOARD
"Nikolaos Cacos"
_______________________________
Nikolaos Cacos, President, CEO and Director
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements and forward-looking information (collectively, the "forward-looking statements") within the meaning of applicable securities laws. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "will", "estimates", "believes", "intends" "expects" and similar expressions which are intended to identify forward-looking statements. More particularly and without limitation, this press release contains forward-looking statements that, other than statements of historical fact, address activities, events or developments the Company believes, expects or anticipates will or may occur in the future, including, without limitation, statements about the closing of the Transaction; the use of proceeds; the strengths, characteristics and potential of the Transaction; the Call Option; production of uranium products and the success of commercial production at the Property; consummation and timing of the Transaction; IMSA's holdings of title to the Property; the Company's ability to leverage COAM's expertise and resources to drive towards the successful development and operation of the project; the ability of any funding towards other highly prospective properties within the Company's portfolio to clear the way for additional discoveries, build more resources and create value for Shareholders; the extent of the Company's continued exposure to potential upside from IMSA's exploration successes; the effectiveness of the Transaction's anti-dilution features in preserving shareholder value as the project advances; and satisfaction of the conditions precedents are forward-looking statements. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements and, even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things: failure to receive TSXV approval; the Meeting date and approval of the Transaction by the Shareholders; failure to satisfy the condition precedents, the potential that the Transaction could be terminated under certain circumstances; the likelihood that the sale of substantially all of the Company's assets will be completed within a reasonable time in accordance with the terms of the Earn-In Agreement; the impact of Shareholders asserting dissent rights in connection with the approval of the Transaction; COAM exercising its rights under the Earn-In Agreement; the Company's working relationship with COAM; the impact of global pandemics; risks and uncertainties related to the ability to obtain, amend, or maintain licenses, permits, or surface rights; risks associated with technical difficulties in connection with mining activities; and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations. Actual results may differ materially from those currently anticipated in such statements. Readers are encouraged to refer to the Company's public disclosure documents for a more detailed discussion of factors that may impact expected future results. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.
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SOURCE Blue Sky Uranium Corp.
FAQ
What percentage of BKUCF's Ivana Property will COAM acquire through the earn-in agreement?
When is the voting deadline for BKUCF shareholders on the COAM transaction?
What is the required shareholder approval percentage for BKUCF's COAM transaction?
How much initial investment is COAM committing to BKUCF's Ivana Property?
What protection do BKUCF shareholders have in the COAM transaction?
