Traction Uranium Corp. Closes Third and Final Tranche of Private Placement
Traction Uranium Corp. Closes Third and Final Tranche of
Private Placement
January 18, 2023
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 , 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, t he Company issued 1,517,666 units (each, a “Unit”) at a price of C$0.3 0
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 purchas e
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 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
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 ass umptions 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 re quired 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.