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 […]

About the author: StockMan
Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, you should before acting on the information or advice, consider the appropriateness of the information or advice in relation to your objectives, financial situation or needs. Please be aware that any information posted on this site should not be considered to be financial product advice.
Posting Guidelines
Do
  • Do contribute something to the discussion
  • Do post factual information, analysis and your view on company valuations
  • Do disclose if you have an interest in a security
  • Do take our Terms of Use seriously
Do Not
  • Do not make low-content posts, unsubstantiated ramps or untruthful/misleading statements
  • Do not complain about a post unless you have reported it first, and not on the forum.
  • Do not post financial advice
  • Do not advertise or post sponsored content

Get involved!

Get Connected!

Come and join our community. Expand your network and get to know new people!

Comments

No comments yet