Traction Exploration Announces Private Placement
TRACTION EXPLORATION ANNOUNCES PRIVATE PLACEMENT
November 11, 2021 – Vancouver, B.C. – Traction Exploration Inc. (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) co mmon 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 t he 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.
Forward-Looking Statements
This news release contains certain forward -looking statements that are “forward looking information”
within the meaning of applic able 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 informat ion, future events or otherwise,
unless so required by applicable securities laws.
Contact Information
Michael Malana
Director and CEO
Telephone: 604 561 2687
Email: [email protected]