Blue Sky Provides Corporate Update

Toronto, Ontario, CANADA

TORONTO, Jan. 26, 2021 (GLOBE NEWSWIRE) -- Blue Sky Energy Inc. (“Blue Sky” or the “Company”) (TSXV: BSI.H) is pleased to announce that Mr. Kenny Choi has been appointed as the Chief Executive Officer and a director of the Company effective immediately.

Mr. Choi is a corporate lawyer who is corporate secretary and legal consultant to various TSX and TSX Venture listed companies in the mining and technology industries. He was previously an associate at a large Toronto corporate law firm, where he worked on a variety of corporate and commercial transactions. Mr. Choi studied at Western University, where he obtained a Juris Doctor from the Faculty of Law and an Honours Business Administration degree from the Ivey Business School. Mr. Choi is also the Corporate Secretary of Blue Sky Energy.

The appointment of Mr. Choi follows Mr. Ahmed Said's resignation as Chief Executive Officer and a director of the Company, also effective immediately. The board and management of the Company express their gratitude to Mr. Said for his efforts and extensive contributions and wish him well in his future endeavours.

Stock Option Grant

The Company has granted a total of 2,640,000 stock options to certain officers, directors and consultants of the Company pursuant to the Company’s stock option plan. The stock options vest immediately and may be exercised at a price of $0.155 (the closing price of the common shares of the Company as of the date of this press release) per option for a period of five years from the date of grant. This grant of options is subject to the approval of the TSX Venture Exchange.

About Blue Sky:

Blue Sky Energy Inc. is a Canadian oil and gas exploration company.

For more information, contact:

Kenny Choi
Chief Executive Officer
Blue Sky Energy Inc.

Forward-looking information

This news release contains forward-looking information relating to the Company's growth and corporate strategy. Forward-looking information relates to management's future outlook and anticipated events or results, and may include statements or information regarding the appointment and resignation of officers, grant of incentive stock options 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.