Traction Uranium Closes Second Tranche of Private Placement

The Company issued 857,142 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, with each whole warrant exercisable into one (1) common share of the Company at a 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 for “Canadian exploration expenses” as such term is defined in the Income Tax Act (Canada) (the “ Tax Act ”).

All securities issuable in connection with the Second Tranche are subject to a statutory hold period, in accordance with applicable securities laws, of four months and one day from the date of issue. A third tranche of the Company’s non-brokered private placement is expected to close in […]

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