NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES
November 15, 2021 – Vancouver, B.C. – Traction Uranium Corp. (CSE: TRAC) (“Traction” or the “Company”) is pleased to announce that it has completed its previously announced non-brokered private placement (the “Private Placement”) of 1,291,986 units (each, a “Unit”) of the Company at a purchase price of $0.27 per Unit for aggregate gross proceeds of $348,836. Each Unit consists of one (1) common share (a “Share”) of the Company and one-half of one (1/2) transferable common share purchase warrant (each whole warrant, a “Warrant”), with each Warrant exercisable into one Share at a price of $0.50 per share for a period of two years from issuance. The Company intends to use the net proceeds from the Private Placement for acquisitions and general working capital.
The securities issued pursuant to the Private Placement have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “1933 Act”), or under any state securities laws, and may not be offered or sold, directly or indirectly, or delivered within the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) absent registration or an applicable exemption from the registration requirements. This news release does not constitute an offer to sell or a solicitation to buy such securities in the United States.
About Traction Exploration Inc.
Traction is a mineral exploration company with an objective to locate and develop economic mineral properties. The Company is based in Vancouver, BC and holds an option over the Whitewater Property located in the Slocan Mining Division, Kaslo, British Columbia.
For more information, investors should review the Company’s filings that are available at www.sedar.com.
This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, including statements regarding the expected use of the proceeds form the Private Placement are “forward-looking statements”. These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
The Canadian Securities Exchange has not reviewed, approved or disapproved the contents of this press release, and does not accept responsibility for the adequacy or accuracy of this release.
Director and CEO
Telephone: 604 561 2687