(Calgary, AB): Traction Uranium Corp. (CSE: TRAC) (OTC: TRCTF) (FRA: Z1K) (the “Company” or “Traction”) announces that, pursuant to its restricted share unit plan and stock option plan, it has granted an aggregate of 3,000,000 restricted share units (“RSUs”) and 600,000 stock options, with an exercise price of $0.29 (“Options”), of the Company to certain directors, officers, and consultants of the Company. All RSUs and Options issued are subject to a 4 month and one day hold period in accordance with CSE Policy 6 and vest on the date of grant. The grant of these RSUs and Options is subject to approval by the CSE and shareholder approval of the proposed amendments to the Company’s existing share unit plan at its next annual general meeting.
Certain insiders received 600,000 Options, which grants represented related-party transactions under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). However, such transactions were exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the subject matter of the transaction, nor the consideration, exceeded 25% of Traction’s market capitalization.
About Traction Uranium Corp.
Traction Uranium Corp. is in the business of mineral exploration and the development of discovery prospects in Canada, including its two 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
Chief Executive Officer
+1 (604) 561 2687
This news release contains “forward-looking information” within the meaning of applicable securities laws relating to statements regarding the Company’s business, products and future of the Company’s business. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking information. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance and developments to differ materially from those contemplated by these statements. Except as required by law, the Company expressly disclaims any obligation and does not intend to update any forward-looking statements or forward- looking information in this news release. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct and makes no reference to profitability based on sales reported.
The Canadian Securities Exchange (CSE) has not reviewed, approved, or disapproved the contents of this press release.