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Blue Sky Energy Announces Private Placement Financing

TORONTO, ONTARIO–(Marketwired – Oct. 20, 2016) –Blue Sky Energy Inc. (“Blue Sky” or the “Company”) (TSX VENTURE:BSI) reports that it intends to complete a non-brokered private placement financing of 222,222 common shares (the “Shares”) at a price of $0.45 per Share for gross proceeds of up to $100,000 (the “Offering”).

The closing date of the Offering is scheduled to be on or about October 25, 2016. All issued Shares will be subject to a hold period of four months and one day. The Offering is subject to a number of conditions, including, without limitation, receipt of all regulatory approvals.

The gross proceeds of the Offering will be used to strengthen the corporate balance sheet, pay existing liabilities and for general corporate purposes. Blue Sky will not pay finder’s fees in connection with the Offering.

About Blue Sky:

Blue Sky Energy Inc. is a Canadian independent oil exploration company.

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Forward-looking information

This news release contains forward-looking information relating to the Company’s growth and corporate strategy, and other statements that are not historical facts. Forward-looking information relates to management’s future outlook and anticipated events or results, and may include statements or information regarding the private placement offering; use of funds; and the future plans or prospects of the Company. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended.

Forward looking-information is subject to certain factors, including risks and uncertainties that could cause actual results to differ materially from what is currently expected. These factors include risks and uncertainties associated with oil and gas exploration, development, exploitation, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources, reliance on key personnel, regulatory risks and delays and other risks and uncertainties discussed in the management discussion and analysis section of the Company’s interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward‐looking information.

The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE

Blue Sky Energy Inc.
Ahmed Said
President & CEO
416-309-2963
asaid@forbesenergygroup.com