Traction Uranium Announces Non-Brokered Flow-Through Private Placement

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Postmedia has not reviewed the content. by GlobeNewswire Traction Uranium Announces Non-Brokered Flow-Through Private PlacementAuthor of the article: You can save this article by registering for free here. 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(CSE: TRAC) (OTC: TRCTF) (FRA: Z1K) (the “Company” or “Traction”) is pleased to announce a non-brokered private placement of units of the Company (each, a “Unit”) at a price of C$0.95 per Unit for aggregate gross proceeds of up to C$750,000 (the “Offering”).Each Unit will consist of one common share of the Company to be issued as a “flow-through share” within the meaning of the Income Tax Act (Canada) (the “Tax Act”) (each, an “FT Share”) and one-half of one transferable common share purchase warrant of the Company (each whole warrant, a “Warrant”). Each Warrant will entitle the holder to acquire one non-flow-through common share of the Company (each, a “Warrant Share”) at an exercise price of C$1.05 per Warrant Share for a period of 24 months from the date of issuance.The gross proceeds from the issuance of the FT Shares will be used to incur eligible “Canadian exploration expenses” that are intended to qualify as “flow-through mining expenditures”, as those terms are defined in the Tax Act, on the Company’s mineral properties, including the Company’s Aurora Project. The Company intends to renounce those expenses to the initial purchasers of the FT Shares with an effective date no later than December 31, 2026, in an aggregate amount not less than the gross proceeds raised from the issuance of the FT Shares.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againThe Offering is expected to close on or about August 31, 2026. Closing of the Offering is subject to the receipt of all necessary corporate and regulatory approvals. All securities issued in connection with the Offering will be subject to a statutory hold period of four months and one day from the applicable date of issuance.This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities referred to in this news release 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 U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration under the U.S. Securities Act and applicable U.S. state securities laws or an available exemption from those registration requirements.About Traction Uranium Corp.Traction is in the business of mineral exploration and the development of discovery prospects in Canada, including its uranium project in the world-renowned Athabasca Region.We invite you to find out more about our exploration-stage activities across Canada’s Western region at https://tractionuranium.com/.On Behalf of The Board of DirectorsJared SuchanCEO and Director (604) 425-2271info@tractionuranium.comForward-Looking StatementsCertain statements contained in this news release constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking information relates to future events or future performance and is based on the Company’s current expectations, estimates, forecasts and assumptions. Forward-looking information is generally identified by words such as “anticipates”, “expects”, “intends”, “plans”, “believes”, “may”, “will”, “could”, “would” and similar expressions, or statements that certain actions, events or results will, may, could or would occur or be achieved. This advertisement has not loaded yet.This advertisement has not loaded yet, but your article continues below.In particular, this news release contains forward-looking information regarding the terms, size and completion of the Offering, including the anticipated closing date of the Offering; the issuance of the Units, FT Shares, Warrants and Warrant Shares; the payment of finder’s fees; the receipt of corporate and regulatory approvals; the intended use of proceeds; the qualification of the FT Shares and the underlying expenditures under the Tax Act; and the Company’s intention to incur and renounce qualifying expenditures to purchasers of the FT Shares. Forward-looking information is based on assumptions that the Company will receive the required approvals, complete the Offering on the terms and within the timeframe anticipated, raise the anticipated proceeds, use the proceeds as described, incur qualifying expenditures and renounce those expenditures to purchasers as intended. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied by the forward-looking information. These risks and uncertainties include the risks that the Offering may not close when anticipated or at all, that the Company may raise less than the maximum proceeds, that required regulatory approvals may not be obtained, that proceeds may not be used as currently anticipated, that expenditures may not qualify under the Tax Act or be renounced as intended, and other risks inherent in mineral exploration, financing, regulatory compliance and the Company’s business. Although the Company believes that the assumptions and expectations reflected in the forward-looking information are reasonable, there can be no assurance that they will prove to be correct. Readers should not place undue reliance on forward-looking information. The forward-looking information in this news release is made as of the date hereof, and the Company undertakes no obligation to update or revise such information except as required by applicable securities laws. The CSE has neither approved nor disapproved the information contained herein.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.