Traction Uranium Corp. has completed a non-brokered private placement of unsecured convertible debentures for C$500,000. The debentures mature in 12 months, bear 10% interest, and are convertible at the market price of the company's shares. Warrants were also issued, allowing holders to purchase shares at 110% of the market price. Proceeds will be used for general and administrative expenses and working capital. The securities are subject to a four-month hold period.
Traction Uranium Announces Closing of Private Placement of C$500,000 of Unsecured Convertible Debentures NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES”) is pleased to announce that it has closed its previously announced non-brokered private placement of unsecured convertible debentures of the Company .
The Convertible Debentures will bear interest at a rate of 10% per annum, calculated quarterly in arrears and payable on the Maturity Date.”) at the election of the holder on, or at any time prior to, the Maturity Date at a conversion price equal to the most recent closing price of the common shares of the Company on the Canadian Securities Exchange prior to the time at which the holder delivers notice of conversion to the Company , with each Warrant entitling the holder to acquire one Common Share at an exercise price equal to 110% of the Market Price for a period of 24 months from the date of issuance. The Company intends to use the net proceeds raised from the Offering for general and administrative expenditures and general working capital purposes. All securities issued pursuant to the Offering will be subject to a statutory four month and one day hold period. 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 have not been and will not be registered under the United States Securities Act of 1933, as amended or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.Traction Uranium Corp. 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. 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 expected use of proceeds therefrom. 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 use the proceeds of the Offering as anticipated. 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 Company does not use the proceeds from the Offering as currently expected; risks inherent in the exploration and development of mineral deposits, including risks relating to changes in project parameters as plans continue to be redefined and the risk that exploration and development activities will cost more than the amount budgeted for such activities by the Company; access and supply risks; operational risks; regulatory risks, including risks relating to the acquisition of the necessary licenses and permits; and financing, capitalization and liquidity risks. 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.Lithium swings from glut to scarcity on Asia demand, Traxys says Lithium is emerging from a period of oversupply after record-high prices spurred supply growth at a time of disappointing demand.By measuring the krypton, the Curtin University team was able to work out how long zircon grains spent near the Earth’s surface before they were buried, like a ‘cosmic clock’.Japanese Prime Minister Sanae Takaichi and Italian Prime Minister Giorgia Meloni agreed to work together on critical mineral supply and elevate their Copper output is seen at 760,000 tons to 820,000 tons this year, rising as much as 11% from last year, the Chinese miner said.Congo state miner proposes deal for cobalt producer prized by US
Private Placement Convertible Debentures Traction Uranium Financing Canadian Securities Exchange
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