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Traction Exploration ( (TSE:TRAC) ) has provided an update.
Traction Uranium Corp. has closed a non-brokered private placement of unsecured convertible debentures, raising C$500,000 in gross proceeds to support general and administrative expenses and working capital. The one-year debentures bear 10% annual interest and are convertible, at the holder’s option, into units consisting of one common share and a warrant, with conversion based on the prevailing market price and warrants exercisable at a 10% premium for two years, providing the company with short-term funding flexibility while offering investors potential equity upside and modest dilution for existing shareholders.
More about Traction Exploration
Traction Uranium Corp. is a Canadian mineral exploration company focused on the development of discovery-stage projects, including a uranium project in Canada’s world-renowned Athabasca Region and other exploration-stage activities across Western Canada.
Average Trading Volume: 10,253
Technical Sentiment Signal: Sell
Current Market Cap: C$2.51M
See more data about TRAC stock on TipRanks’ Stock Analysis page.