Traction Uranium Corp. Closes Third and Final Tranche of Private Placement


Calgary AB – Traction Uranium Corp.  (the “Company” or “Traction”) ‎(CSE: TRAC) (OTC: TRCTF) (FRA: Z1K) is pleased to announce, further to its news releases on December 9, 2022 and December 23, 2022, that it has closed the third and final tranche of a non-brokered private placement (the “Final Tranche”) for aggregate gross proceeds of C$455,299.80.

Pursuant to the Final Tranche, the Company issued 1,517,666 units (each, a “Unit”) at a price of C$0.30 per Unit. Each Unit consists of one (1) common share (each, a “Share”) and one-half (1/2) of a Share purchase warrant, with each whole warrant exercisable into one (1) Share at a price of C$0.40 until January 18, 2025.

The Company intends to use the gross proceeds from the Final Tranche for working capital and general corporate purposes.

In consideration for the introduction of investors in the Final Tranche to the Company, a total of C$9,918 in finder’s fees were paid in cash and 33,060 finder’s warrants were issued (with the same terms as the warrants noted above), in each case to the finders of such investors.

All securities issuable in connection with the Final Tranche (including the finder’s warrants) are subject to a statutory hold period, in accordance with applicable securities laws, of four months and one day from the date of issue, expiring May 19, 2023.

Including the first two tranches of the Company’s non-brokered private placement (the “Offering”), the Offering as a whole resulted in the issuance by the Company of a total of 1,517,666 Units and 8,037,472 flow-through units (the “FT Units”), for total gross proceeds of $3,268,405. Each FT Unit was sold at a price of C$0.35 and was comprised of one “flow-through” Share and one-half (1/2) of a Share purchase warrant, with each whole warrant exercisable into one (1) Share at a price of C$0.40 for a period of two years from the date of issue. In connection with the Offering, the Company paid a total of $78,485.10 in finder’s fees and issued a total of 228,966 finder’s warrants, in each case to certain finders in consideration for their introduction of investors in the Offering to the Company.

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 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

On Behalf of The Board of Directors

Lester Esteban
Chief Executive Officer
+1 (604) 561 2687

Forward-Looking Statements

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information that is based on the Company’s current beliefs or assumptions as to the outcome and timing of such future events.

In particular, this press release contains forward-looking information relating to, among other things, the Final Tranche, including the use of proceeds therefrom. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information, including the assumption that the Company will use the proceeds from the Final Tranche as anticipated. Although such statements are based on reasonable assumptions of the Company’s management, there can be no assurance that any conclusions or forecasts will prove to be accurate.

Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include the risk that the Company does not use the proceeds from the Final Tranche as currently expected. The forward-looking information contained in this release is made as of the date hereof, and the Company not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

The Canadian Securities Exchange has not approved nor disapproved the contents of this news release and does not accept responsibility for the adequacy or accuracy of this release.

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