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THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

CALGARY, Alberta, Nov. 14, 2023 (GLOBE NEWSWIRE) — Traction Uranium Corp. (CSE: TRAC) (OTCQB: TRCTF) (FRA: Z1K) (the “Corporate” or “Traction”) is happy to announce that, additional to its information free up of October 27, 2023 which introduced: i.) a non-brokered non-public placement of as much as 10,000,000 gadgets of the Corporate (each and every, a “Unit”) pursuant to the indexed issuer financing exemption (“LIFE Exemption”) for gross proceeds of as much as $1,500,000 (the “LIFE Providing”); and, ii.) a non-brokered non-public placement of as much as 5,714,285 flow-through gadgets of the Corporate (each and every, an “FT Unit”) for gross proceeds of as much as $one million (the “FT Gadgets Providing”), it has closed the primary tranche of the LIFE Providing and the FT Gadgets Providing (the “First Tranche”) through issuing 793,334 Gadgets at a worth of $0.15 according to Unit, and three,589,144 FT Gadgets at a worth of $0.175 according to FT Unit, for mixture gross proceeds of $747,100.30.

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Every Unit consisted of 1 (1) not unusual proportion within the capital of the Corporate (a “Proportion”) and one (1) not unusual proportion acquire warrant of the Corporate (a “Warrant”). Every Warrant entitles the holder thereof to procure one (1) further Proportion (a “Warrant Proportion”) at a worth of $0.20 according to Warrant Proportion for a length of 24 months from the date of issuance. The Gadgets have been presented pursuant to LIFE Exemption below Phase 5A of Nationwide Tool 45-106 Prospectus Exemptions and due to this fact the securities issued thereunder don’t seem to be topic to a dangle length in line with acceptable Canadian securities regulations. The proceeds from the LIFE Providing are supposed for use to advance the Corporate’s 3 flagship uranium initiatives within the Athabasca Area and for different common company functions.

Every FT Unit consisted of 1 (1) “flow-through” not unusual proportion within the capital of the Corporate (each and every, an “FT Proportion”) and one (1) Warrant, wherein each and every Warrant shall entitle the holder thereof to buy an extra Proportion at an workout value of $0.20 for a length of 24 months from the date of issuance. The securities issued from the FT Gadgets Providing are topic to a statutory dangle length of 4 months and in the future from November 14, 2023. The proceeds from the FT Gadgets Providing shall be utilized by the Corporate to incur eligible “Canadian exploration bills” that qualify as “flow-through mining expenditures”, as each phrases are outlined within the Source of revenue Tax Act (Canada).

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In reference to the remaining of the First Tranche, an mixture of $44,826 was once paid in money and a complete of 262,948 finder’s warrants (each and every, a “Finder’s Warrant”) have been issued as finder’s charges. Every Finder’s Warrant entitles the holder thereof to procure one (1) not unusual proportion within the capital of the Corporate (a “Finder’s
Warrant Proportion”) at a worth of $0.20 according to Finder’s Warrant Proportion for a length of 24 months from November 14, 2023.

The LIFE Providing and the FT Providing, of their entirety, are anticipated to near on or about November 30, 2023, and are topic to positive stipulations, together with, however now not restricted to, the receipt of all essential regulatory and different approvals.

The securities issued pursuant to the LIFE Providing and the FT Providing have now not been, nor will they be, registered below america Securities Act of 1933, as amended, and is probably not presented or bought inside of america or to, or for the account or advantage of, U.S. individuals within the absence of U.S. registration or an acceptable exemption from the U.S. registration necessities. This information free up shall now not represent an be offering to promote or the solicitation of an be offering to shop for nor shall there be any sale of the securities in america or in another jurisdiction during which such be offering, solicitation or sale could be illegal.

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About Traction Uranium Corp.

Traction Uranium Corp. is within the trade of mineral exploration and the improvement of uranium discovery possibilities in Canada, together with its 3 uranium initiatives within the world-renowned Athabasca Area.

We invite you in finding out extra about our exploration-stage actions throughout Canada’s Western area at www.tractionuranium.com.

On Behalf of The Board of Administrators

Lester Esteban
Leader Govt Officer
+1 (604) 425-2271
data@tractionuranium.com

Ahead-Taking a look Statements

This press free up comprises forward-looking statements throughout the that means of acceptable securities regulations. The usage of any of the phrases “look ahead to”, “plan”, “proceed”, “be expecting”, “estimate”, “goal”, “would possibly”, “will”, “mission”, “will have to”, “expect”, “attainable” and an identical expressions are supposed to spot forward-looking statements. Specifically, this press free up comprises forward-looking statements regarding the LIFE Providing and FT Unit Providing, together with the deadlines thereof, the proposed use of proceeds, and receipt of regulatory and inventory trade approvals. Even supposing the Corporate believes that the expectancies and assumptions on which the forward-looking statements are based totally are affordable, undue reliance will have to now not be positioned at the forward-looking statements since the Corporate can not give any assurance that they’re going to end up right kind. Since forward-looking statements cope with long run occasions and stipulations, they contain inherent assumptions, dangers and uncertainties. Precise effects may just range materially from the ones these days expected because of a lot of assumptions, components and dangers, a lot of which might be past the Corporate’s skill to keep an eye on or expect. Elements that might motive exact effects or occasions to range materially from present expectancies come with, however don’t seem to be restricted to, stipulations within the fairness financing markets, inventory marketplace volatility, unquantifiable dangers associated with executive movements and interventions, the termination of any settlement governing the LIFE Providing and/or FT Unit Providing, adjustments in regulations or allowing necessities, failure to procure essential regulatory approvals in addition to the ones dangers recognized and reported within the Corporate’s public filings ‎‎below the Corporate’s SEDAR+ profile at www.sedarplus.ca.

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Control has supplied the above abstract of dangers and assumptions associated with forward-looking statements on this press free up to be able to supply readers with a extra complete point of view at the Corporate’s long run operations. The Corporate’s exact effects, efficiency or success may just range materially from the ones expressed in, or implied through, those forward-looking statements and, accordingly, no assurance may also be for the reason that any of the occasions expected through the forward-looking statements will transpire or happen, or if any of them achieve this, what advantages the Corporate will derive from them. Those forward-looking statements are made as of the date of this press free up, and, instead of as required through acceptable securities regulations, the Corporate disclaims any intent or legal responsibility to replace publicly any forward-looking statements, whether or not because of new knowledge, long run occasions or effects or in a different way.

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