November 11, 2021 – Vancouver, B.C. – Traction Uranium Corp. (CSE: TRAC) (“Traction” or the “Company”) is pleased to announce that it intends to complete a non-brokered private placement (the “Private Placement”) of up to 1,222,222 units (each, a “Unit”)of the Company at a price of $0.27 per Unit, for gross proceeds of up to $330,000. Each Unit will consist of one (1) common share and one half of one (1/2) common share purchase warrant, each warrant being exercisable at a price of $0.50 for twenty-four (24) months from issuance. The Company intends to use the proceeds of the Private Placement for acquisitions and general working capital.
The Company may pay finder’s fees to eligible parties who introduce subscribers to the Private Placement. All securities issued in connection with the Private Placement will be subject to a four-month and one-day statutory hold period in accordance with applicable securities laws.
The securities to be issued under the Private Placement have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.
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 that are “forward looking information” 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 Private Placement, the intended use of proceeds therefrom and the payment of finders’ fees in connection therewith, are “forward-looking information”. 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.
Director and CEO
Telephone: 604 561 2687