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Traction Uranium Raises C$750,025 Via Non-Brokered Flow-Through Private Placement

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Traction Uranium (TRAC.CN) closed its non-brokered private placement of units raising C$750,025, it said in a statement late Friday.

The company offered 789,500 units at C$0.95 apiece. Each unit consists of one common share issued as a flow-through (FT) share and one-half of one transferable common share purchase warrant, the mineral exploration said.

Each warrant entitles the holder to buy a share for C$1.05 for a two-year period from the date of issuance. Traction Uranium issued 789,500 FT shares and 394,750 warrants as part of the offering.

Proceeds from the issued FT shares will be used to incur eligible "Canadian exploration expenses" that are intended to qualify as "flow-through mining expenditures," it added.

Shares of the company were last seen down 2% at C$0.98 on the Canadian Securities Exchange.

Price: $0.98, Change: $-0.02, Percent Change: -2.00%

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