Blue Sky Uranium Corp V.BSK

BOD wants to add new "Article 26"

[Madheight]

Read page 18 and 19 of the new "circular" per recent Sedar posting describing a proposal to add a new Article 26.  In particular please read Paragraphs "MATERIAL DIFFERENCES BETWEEN EXISTING ARTICLES AND NEW ARTICLES.  I am concerned with particular MATERIAL differences stated on page 19 as follows: "3) increase, reduce, or eliminate the maximum number of shares that the Company is authorized to issue out of any class or series of shares or establish a maximum number of shares that the Company is authorized to issue out of any class or series of shares for which no maximum is established  4) subdivide or consolidate all or any of its unissued, or fully paid issued shares 8) otherwise alter its shares or authorized share sturcture when required or permitted to do so by the BCBCA (British Columbia Business Corporations Act)"                                   The BOD wants to make these changes without a vote by shareholders ongoing.  Maybe I'm misinterpreting but to me it means that, upon approval of Article 26, the BOD can issue preferred placements at will and can consolidate (i.e. reverse split) shares at will. 

[Laphroig]

Ok, I see your point. I interpreted many of the changes in the Articles (Name Change, preferred share elimination, etc.) as preparation for good news and a takeover/buyout. I thought the sections covering "Change of Control" and "New 10% Options" were new regulations to make sure management and directors were paid off adequately before the big news. I was a little uneasy about

[Laphroig]

The other point is, the Company ran out of money from their 2019 raise in February. At that time they took out 3 loans, one that was secured and payable in early August.... the 10th I believe. I interpreted that as evidence that management wanted to avoid dilution and good news was coming.

[Madheight]

Good news?  Like drilling results?  There isn't much else this company does for a living.  Last I remember is there was a PP specifically raised to drill.  Now there is complete silence.  And then Article 26 appears for approval before virtual shareholders meeting mid Sept.  I am not liking the sequence of events.  I don't see this as "good"

[Laphroig]

Mad, I'm with you on the silence about drill results.... I hope the news comes first ... management takes their cut .. and we get a fair bit of the meat. Could we get burned....of course. We should know soon.