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Blue Sky Uranium Corp. (TSXV:BSK,FWB:MAL) and Windstorm Resources Inc. (TSXV:WSR,FWB:4WE) announced court approval of the plan for Blue Sky to acquire Windstorm.
Blue Sky Uranium Corp. (TSXV:BSK,FWB:MAL) and Windstorm Resources Inc. (TSXV:WSR,FWB:4WE) announced court approval of the plan for Blue Sky to acquire Windstorm.
As quoted in the press release:
Subject to TSX Venture Exchange (the “Exchange”) final approval, the closing of the Arrangement is expected to occur on July 5, 2012. Pursuant to the Arrangement, Blue Sky will issue to shareholders of record of Windstorm on July 5, 2012, 0.38868 of a common share of Blue Sky (the “Exchange Ratio”) for each outstanding common share of Windstorm. Outstanding warrants and stock options to acquire common shares of Windstorm will entitle the holders thereof on exercise to receive common shares of Blue Sky, adjusted for the Exchange Ratio with a corresponding adjustment to the exercise price and subject to the terms of such Windstorm warrants and stock options.
