Traction Uranium Announces Securities for Debt Settlement

Core Viewpoint - Traction Uranium Corp. has entered into debt settlement agreements totaling $283,400 through the issuance of units, which include common shares and warrants, with certain related parties involved in the company [2][3]. Group 1: Debt Settlement Agreements - The company will settle debts amounting to $283,400 by issuing 1,288,181 units at a deemed price of $0.22 per unit, each unit consisting of one common share and one share purchase warrant [2]. - Each warrant can be converted into one share at a price of $0.285 for a period of two years [2]. Group 2: Related Party Transactions - Two of the agreements are classified as "related party transactions" under Multilateral Instrument 61-101, involving a director and a company controlled by an officer [3]. - The company is relying on exemptions from certain requirements of MI 61-101, as the fair market value of the transactions will not exceed 25% of the company's market capitalization [3]. Group 3: Regulatory Approval - The agreements and the issuance of securities are subject to approval from the Canadian Securities Exchange (CSE) [4]. - The securities will be subject to a hold period of four months and one day in accordance with applicable securities laws [4]. Group 4: Company Overview - Traction Uranium Corp. is engaged in mineral exploration and development, focusing on uranium projects in Canada, particularly in the Athabasca Region [5].