Traction Uranium Announces LIFE Offering for up to C$833,400
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
CALGARY, Alberta, July 25, 2025 (GLOBE NEWSWIRE) — Traction Uranium Corp. (CSE: TRAC) (FRA: Z1K) (the “Company” or “Traction”) is pleased to announce that it intends to complete a private placement financing (the “Offering”) of units (each, a “Unit”) at a price of C$0.18 per Unit, with each Unit being comprised of one common share (each, a “Share”) and one Share purchase warrant (“Warrant”). Each Warrant will be entitling the holder to purchase one Share at a price of C$0.24 during the period between the date that is 60 days from Closing (as defined below) and the date that is 24 months from Closing. Closing of the Offering is anticipated to occur on or about August 8, 2025 (“Closing”). The Company notes that it will only complete the Offering if it is able to place a minimum of 2,777,777 Units for gross minimum proceeds of C$500,000.
Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 – Prospectus Exemptions (“NI 45-106”), the securities issuable under the Offering will be offered for sale to purchasers resident in all of the provinces of Canada (except Quebec) pursuant to the listed issuer financing exemption under Part 5A.2 of NI 45-106 (the “LIFE Exemption”). As such, the securities issued to subscribers will not be subject to resale restrictions in accordance with applicable Canadian securities laws.
There is an offering document dated July 25, 2025 related to the Offering that can be accessed under the Company’s profile at www.sedarplus.ca and on the Company’s website at https://tractionuranium.com/. The offering document contains further details regarding the Offering, including additional detail regarding the expected use of proceeds therefrom. Prospective investors in the Offering should read this amended and restated offering document before making an investment decision.
The Company further announces that it has entered into a second amending agreement (the “Amending Agreement”) with the optionor for the Hearty Bay Project which amends certain terms of the mineral property option agreement dated December 9, 2021, as amended by the first amending agreement dated February 28, 2023 (the “Option Agreement”). See the news release of the Company dated December 10, 2021 for more information concerning the Hearty Bay Project and the Option Agreement.
Pursuant to the Amending Agreement, the optionor has agreed to extend the due date of certain cash payments payable by the Company, as well as the deadline by which the Company is to incur certain exploration expenditures under the Option Agreement by a year, in consideration for the issuance of an additional 400,000 common shares (the “Consideration Shares”) of the Company to the optionor. The Consideration Shares shall be subject to a four-month hold.
The securities described herein 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 United States state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any available exemption from the registration requirements of the U.S. Securities Act and applicable United States state securities laws. This press release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
ABOUT TRACTION URANIUM CORP.
Traction Uranium Corp. (CSE: TRAC) (FRA: Z1K) 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 Directors
Paul Gorman
Chief Executive Officer
(604) 425-2271
info@tractionuranium.com
FORWARD-LOOKING STATEMENTS
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events.
In particular, this press release contains forward-looking information relating to, among other things, the Offering, including the total amount of securities sold to the offering, anticipated proceeds, the expected use of proceeds, satisfaction of conditions to closing, and the closing (including the proposed closing date) of the Offering, if it is to close at all, as well as the acceptance by the Exchange of the Amending Agreement. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information, including the assumption that the Company will close the Offering on the timeline anticipated, or at all, will raise the anticipated amount of gross proceeds from the Offering, will use the proceeds of the Offering as anticipated and that the Exchange will accept the Amending Agreement. Those assumptions and factors are based on information currently available to the Company. Although such statements are based on reasonable assumptions of the Company’s management, there can be no assurance that any conclusions or forecasts will prove to be accurate.
Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include: the risk that the Offering does not close on the timeline expected, or at all; the risk that the Company raises less than the anticipated amount of gross proceeds from the Offering; the risk that the Company does not use the proceeds from the Offering as currently expected; the risk that Exchange approval of the Amending Agreement will not be obtained; risks inherent in the exploration and development of mineral deposits, including risks relating to receiving requisite permits and approvals, changes in project parameters or delays as plans continue to be redefined, that mineral exploration is inherently uncertain and that the results of mineral exploration may not be indicative of the actual geology or mineralization of a project; that mineral exploration may be unsuccessful or fail to achieve the results anticipated by the Company; operational risks; regulatory risks, including risks relating to the acquisition of the necessary licenses and permits; financing, capitalization and liquidity risks; title and environmental risks; and risks relating to the failure to receive all requisite regulatory approvals. The forward-looking information contained in this release is made as of the date hereof, and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
The Canadian Securities Exchange has not reviewed, approved, or disapproved the contents of this press release.
