- Traction Uranium (TRAC) has announced a private placement for gross proceeds of up to $3,000,000
- The offering consists of flow-through units and charitable FT units
- Traction Uranium intends to use the proceeds raised from the offering for exploration of the Hearty Bay, Lazy Edward Bay and Key Lake South uranium projects
- Traction Uranium is a mineral exploration company
- Traction Uranium Corp. (TRAC) opened trading at C$0.325
Traction Uranium (TRAC) has announced a private placement for gross proceeds of up to C$3,000,000.
The offering consists of flow-through units at $0.40 per FT unit and charitable FT units at $0.51 per charity FT unit.
Each FT unit and charity FT unit will consist of one FT common share and one-half of one common share purchase warrant. Each whole warrant shall entitle the holder to purchase one additional common share for a period of 24 months after the closing date of the offering.
The agent will have an over-allotment option, exercisable in full or in part, up to 48 hours prior to the closing of the offering to sell up to an additional C$500,000 in any combination of offered securities.
Traction Uranium intends to use the proceeds raised from the offering for exploration of the Hearty Bay, Lazy Edward Bay and Key Lake South uranium projects located in the Athabasca Basin.
The offering is scheduled to close on or around October 27, 2022, and is subject to receipt of all necessary approvals, including the approval of the Canadian Securities Exchange.
The FT shares and warrant shares are subject to a statutory four-month hold period.
Traction Uranium Corp. engages in mineral exploration and the development of discovery prospects in Canada, including its two flagship uranium projects in the world-renowned Athabasca Region.
Traction Uranium Corp. (TRAC) opened trading at C$0.325.