Traction Uranium Announces Closing of Private Placement of C$500,000 of Unsecured Convertible Debentures

Core Viewpoint - Traction Uranium Corp. has successfully closed a non-brokered private placement of unsecured convertible debentures, raising gross proceeds of C$500,000 [1] Group 1: Offering Details - The convertible debentures are issued in principal amounts of C$1,000 and will mature in 12 months, bearing an interest rate of 10% per annum, payable on the maturity date [2] - Each debenture can be converted into units at the holder's discretion, with the conversion price based on the most recent closing price of the company's common shares [3] - Each unit consists of one common share and one warrant, with the warrant allowing the holder to purchase one common share at an exercise price of 110% of the market price for 24 months [3] Group 2: Use of Proceeds - The net proceeds from the offering will be utilized for general and administrative expenditures and general working capital purposes [4] Group 3: Company Overview - Traction Uranium Corp. is engaged in mineral exploration and development, focusing on uranium projects in Canada, particularly in the Athabasca Region [6]