Blue Sky Energy announces $5M private placement

Toronto (pcJ News Briefs) – Blue Sky Energy Inc. (TSX-V: BSI) has arranged a non-brokered private placement financing of up to 5,000,000 units at $1.00 per unit for gross proceeds of up to $5,000,000.

Each unit is comprised of one common share and one half of one common share purchase warrant. Each whole warrant will entitle the holder thereof to purchase one common share at a price of $1.50 for a period of 24 months following the closing date, subject to accelerated expiry.

Proceeds will be used for general corporate purposes.

Blue Sky Energy Inc., formerly Brookwater Ventures Inc., is a Canadian independent oil exploration company.