Traction Uranium Closes First Tranche of Private Placement

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 (each, 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 FT 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 […]

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