MAY 30, 2024 – TheNewswire – Ilyas Chaudhary, as Trustee to the Chaudhary Trust Dated September 5, 2013 ("Chaudhary Trust") issues this press release pursuant to Part 3 – Early Warning Requirements of National Instrument 62-103 with respect to Blue Sky Global Energy Corp. (the "Corporation").

On May 28, 2024, the Chaudhary Trust dated September 5, 2023 was issued 49,239,640 common shares at a price of $0.4642 per Common Share as part of and in connection with the Corporations acquisition from Blue Sky Resources Ltd. (“BSR”) of a 50% non-operating interest in certain oil and gas assets owned by BSR that are located in Northeastern British Columbia (“BSR BC Assets”) and 100% of the shares of Blue Sky Paus Ltd., that holds a Production Sharing Contract over offshore waters near Indonesia that may be prospective for oil and gas exploration (“BSR Indonesian Assets”) (collectively, the “Acquisition”).

Furthermore, a share consolidation of the Corporation on the basis of one (1) new share for every five (5) old common shares has been completed effective May 24, 2024 (the “Consolidation”). Following the Consolidation and the Acquisition, the Corporation has 69,693,659 common shares issued and outstanding and pursuant to the Acquisition 49,239,640 of these shares were issued at a deemed price of  $0.4642 and are owned by the Chaudhary Trust, subject to ‘deferred consideration shares’ that were issued to Chaudhary Trust on closing of the Acquisition but are restricted and not releasable until such time as the capitalization of the Corporation changes so as to maintain TSXV public float requirements. On closing of the Acquisition, 5,070,146 Company shares were issued to Chaudhary Trust and are held in escrow and releasable pursuant to a TSXV Form 5D – Value Escrow Agreement (“Escrow Agreement”) and the remaining 44,169,494 deferred consideration shares of the Corporation will be releasable to Chaudhary Trust, as and when available to maintain the TSXV public float requirements for the Corporation and pursuant to the Escrow Agreement.

After giving effect to the foregoing transactions, the Chaudhary Trust holds an aggregate of 49,239,640 (70.65%) Common Shares (“Common Shares”) of the 69,693,659 issued and outstanding common shares of the Corporation.  

The Shares acquired by the Chaudhary Trust are for investment purposes only and the Chaudhary Trust may acquire additional securities of the Corporation, dispose of some or all of the securities that they now own or control, or may continue to hold their current positions.  The acquisition of the Shares issued to the Chaudhary Trust was exempted from securities legislation under Section 2.3 of National Instrument 45-106 – Prospectus and Registration Exemptions.  The Common Shares of the Corporation are listed on the TSX Venture Exchange under the trading symbol "BGE".  

FOR FURTHER INFORMATION, PLEASE CONTACT:

Chaudhary Trust Dated September 5, 2013

Email: ic@bsrl.ca