Traction Uranium Corp. Closes First Tranche of Private Placement
Traction Uranium Corp. Closes First Tranche of Private Placement
December 9, 2022
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
Calgary AB – Traction Uranium Corp. (the “Company” or “Traction”) (CSE: TRAC) (OTC: TRCTF)
(FRA: Z1K) is pleased to announce that it has closed the first tranche of a non-brokered private placement
(the “First Tranche Private Placement”) for aggregate gross proceeds of approximately C$2,513,105.00.
The Company issued 7,180,300 flow -through units (each, a “ Flow-Through Unit”) at a price of C$0.35
per Flow-Through Unit. Each Flow-Through Unit consists of one (1) common share (each, a “FT Share”)
and one half (1/2) common share purchase warrant (eac h, a “ FT Warrant”). Each whole FT Warrant is
exercisable into one (1) common share of the Company (each a “Share”) at an exercise price of C$0.40 for
a period of two years from the date of issue.
The Company will use the proceeds from the issuance of the F T Shares to incur “Canadian exploration
expenses” as such term is defined in the Income Tax Act (Canada) (the “Tax Act”).
In connection with closing of the First Tranche Private Placement, the Company paid finder’s fees in the
aggregate of $68,567.10 in cash and issued 195,906 finder’s warrants (each, a “Finder’s Warrant”). Each
Finder’s Warrant is exercisable into one (1) Share at an exercise price of C$0.40 for a period of two years
from the date of issue.
All securities issuable in connection with the First Tranche Private Placement are subject to a statutory hold
period, in accordance with applicable securities laws, of four months and one day from the date of issue.
The second tranche of the Company’s non -brokered private placement is expected to close on or about
December 16, 2022.
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 exemp tion from such
registration is available.
The Company also announces that it has terminated its option to earn an interest in the Lazy Edwards
Property.
About Traction Uranium Corp.
Traction Uranium Corp. is in the business of mineral exploration and the development of discovery
prospects in Canada, including its three 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
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
First Tranche Private Placement, including the use of proceeds from the First Tranche Private Placement.
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 First Tranche Private Placement as anticipated and, specifically with respect to the FT
Shares, that the Company will use the proceeds from the FT Shares to fund “Canadian expl oration
expenses”, as such term is defined in the Tax Act, and the assumption that the Company will close the
second tranche on the timeline 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 diffe rent 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 First Tranche Private
Placement as currently expected, the risk that the Company does not use the proceeds raised from the sale
of the FT Shares to fund “Canadian exploration expenses”, as such term is defined in the Tax Act, risk that
the second tranche does not close on the timeline expected, risks inherent in t he exploration and
development of mineral deposits, including risks relating to changes in project parameters as plans
continue to be redefined, risks relating to variations in grade or recovery rates, risks relating to changes
in mineral prices and the wo rldwide demand for and supply of minerals, risks related to increased
competition and current global financial conditions, access and supply risks, risks related to the Company’s
reliance on key personnel, operational risks, regulatory risks, including risks relating to the acquisition of
the necessary licenses and permits, financing, capitalization and liquidity risks, title and environmental
risks and risks relating to the failure to receive all requisite regulatory approvals. 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.