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Traction Uranium Closes Second Tranche of Private Placement
CALGARY, Alberta, Dec. 23, 2022 (GLOBE NEWSWIRE) -- Traction Uranium Corp. (the “Company” or “Traction”) (CSE: TRAC) (OTC: TRCTF) (FRA: Z1K) is pleased to anno
About this update from Traction Uranium Corp
[{"type":"text","content":" CALGARY, Alberta, Dec. 23, 2022 (GLOBE NEWSWIRE) -- Traction Uranium Corp. (the “Company” or “Traction”) (CSE: TRAC) (OTC: TRCTF) (FRA: Z1K) is pleased to announce that it has closed the second tranche of a non-brokered private placement (the “Second Tranche”) for aggregate gross proceeds of C$299,999.70. The Company issued 857,142 flow-through units (each, a “Flow-Through Unit”) at a price of C$0.35 per Flow-Through Unit. Each Flow-Through Unit consists of one (1) common share (each, a “FT Share”) and one-half (1/2) common share purchase warrant, with each whole warrant exercisable into one (1) common share of the Company at a price of C$0.40 for a period of two years from the date of issue. The Company will use the proceeds from the issuance of the FT Shares for “Canadian exploration expenses” as such term is defined in the Income Tax Act (Canada) (the “Tax Act”). All securities issuable in connection with the Second Tranche are subject to a statutory hold period, in accordance with applicable securities laws, of four months and one day from the date of issue. A third tranche of the Company’s non-brokered private placement is expected to close in January 2023. This press release does not constitute an offer to sell or solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration is available. About Traction Uranium Corp. Traction Uranium Corp. is in the business of mineral exploration and the development of discovery prospects in Canada, including its three flagship uranium projects in the world renowned Athabasca Region. The Company invites you to find out more about its exploration-stage activities across Canada’s Western region at www.tractionuranium.com. On Behalf of The Board of Directors Lester Esteban Chief Executive Officer +1 (604) 561 [email protected] Forward-Looking Statements Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future perfo...