Associated tags: OTC, TRAC, FRA, Traction, CSE, Uranium, News, Athabasca Basin, National instrument
Locations: VANCOUVER, BC, CA, NORTH AMERICA, ALBERTA
CALGARY, Alberta, April 11, 2024 (GLOBE NEWSWIRE) -- Traction Uranium Corp. (CSE: TRAC) (OTC: TRCTF) (FRA: Z1K) (the “Company” or “Traction”) is pleased to announce the appointment of Paul Gorman as Interim Chief Executive Officer and Director of the Company.
Key Points:
- CALGARY, Alberta, April 11, 2024 (GLOBE NEWSWIRE) -- Traction Uranium Corp. (CSE: TRAC) (OTC: TRCTF) (FRA: Z1K) (the “Company” or “Traction”) is pleased to announce the appointment of Paul Gorman as Interim Chief Executive Officer and Director of the Company.
- Paul founded Mega Graphite Inc. in 2009 and has served as chief executive for three other companies.
- The appointment of Mr. Gorman follows the resignation of Lester Esteban as Chief Executive Officer for the Company.
- The Company would like to thank Mr. Esteban for his contributions as Chief Executive Officer for Traction.
National Instrument 43-101,
Property,
VLF,
FRA,
News,
National instrument,
OTC,
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Ice,
Traction,
Uranium mining Importantly, this suggests that it will be possible to use the subglacial till sampling method to trace the dispersion of uraniferous till under the lake, and thus directly back to the source of the historic Isle Brochet high grade boulder trains.
Key Points:
- Importantly, this suggests that it will be possible to use the subglacial till sampling method to trace the dispersion of uraniferous till under the lake, and thus directly back to the source of the historic Isle Brochet high grade boulder trains.
- The discovery of this 2.3 m thick till under the lake provides strong support for additional sub glacial till sampling to ultimately lead directly to the source from which the radioactive boulder trains on Isle Brochet originate.
- An inversion based structural interpretation will then be included for drill planning for the next program on the Property.
- The information provides an indication of the exploration potential of the Company’s properties but may not be representative of expected results.
Traction,
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Uranium mining The program is designed to find the source of glacially dispersed uraniferous boulders and anomalous till geochemistry samples on Isle Brochet.
Key Points:
- The program is designed to find the source of glacially dispersed uraniferous boulders and anomalous till geochemistry samples on Isle Brochet.
- The glacially dispersed material in combination with the recently completed gravity survey (see News Release of January 30, 2024) provides new, reliable targets for the program that were not tested in previous and historic drill programs.
- A total of approximately 2,000 metres of drilling is planned using a Boart Longyear sonic rig that can recover and sample both overburden and bedrock.
- The information provides an indication of the exploration potential of the Company’s properties but may not be representative of expected results.
Retrieved on:
Tuesday, January 30, 2024
The survey has identified a number of gravity lows, several located northeast (up-ice) of the boulder train, but slightly more east than where the historic drilling was targeting.
Key Points:
- The survey has identified a number of gravity lows, several located northeast (up-ice) of the boulder train, but slightly more east than where the historic drilling was targeting.
- These targets are up to 500m long with the three anomalous areas on the east side lining up along a possible north-south fault system.
- This gives Traction and F3 excellent targets for the upcoming sonic drill program.
- The upcoming drill program is slated to start near the end of February – early March and will consist of approximately 2,000 metres.
Retrieved on:
Tuesday, January 16, 2024
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FRA Pursuant to the Option Agreement, as previously disclosed in the news release dated February 7, 2023, the Company has the right, at its option, to acquire up to a 100% interest in the Grease River Property located in Athabasca Basin, Northern Saskatchewan, Canada (the “Property”) in exchange for a series of cash payments, share issuances and funding of exploration expenditures, separated into three phases.
Key Points:
- Pursuant to the Option Agreement, as previously disclosed in the news release dated February 7, 2023, the Company has the right, at its option, to acquire up to a 100% interest in the Grease River Property located in Athabasca Basin, Northern Saskatchewan, Canada (the “Property”) in exchange for a series of cash payments, share issuances and funding of exploration expenditures, separated into three phases.
- The Company will become operator of the Property if it exercises the First Option.
- To date, a total of 375,000 Phase One Consideration Shares have been issued to the Vendor.
- All common shares issued to the Optionor pursuant to the Option Agreement will be subject to a statutory four month hold period pursuant to applicable Canadian securities laws.
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Hearty CALGARY, Alberta, Jan. 08, 2024 (GLOBE NEWSWIRE) -- Traction Uranium Corp. (CSE: TRAC) (OTCQB: TRCTF) (FRA: Z1K) (the “Company” or “Traction”) a uranium exploration company with projects in Saskatchewan’s Northern Athabasca Basin, is pleased to announce mobilization of a gravity crew to the company’s Hearty Bay Project.
Key Points:
- CALGARY, Alberta, Jan. 08, 2024 (GLOBE NEWSWIRE) -- Traction Uranium Corp. (CSE: TRAC) (OTCQB: TRCTF) (FRA: Z1K) (the “Company” or “Traction”) a uranium exploration company with projects in Saskatchewan’s Northern Athabasca Basin, is pleased to announce mobilization of a gravity crew to the company’s Hearty Bay Project.
- Traction will be conducting a gravity survey on Hearty Bay prior to diamond drilling to maximize targets for this winter’s program.
- The Hearty Bay Project is an ice-road program and suitable ice thickness must be achieved prior to mobilizing drilling equipment over the ice.
- The gravity survey crew is currently mobilizing to Fond du Lac as ice thickness is enough to allow snowmobiles to access the project.
Retrieved on:
Friday, November 24, 2023
CALGARY, Alberta, Nov. 24, 2023 (GLOBE NEWSWIRE) -- Traction Uranium Corp. (CSE: TRAC) (OTCQB: TRCTF) (FRA: Z1K) (the “Company” or “Traction”) is pleased to announce that, further to its news release of October 27, 2023 and November 14, 2023 which announced: i.) a private placement offering (the “Offering”) of up to 10,000,000 non-flow through units (“NFT”) and up to 5,714,285 flow-through (“FT”) units, as well as, ii.) the closing of the first tranche of the Offering, respectively, it has closed the second tranche of the Offering (the “Second Tranche”) by issuing 2,000,000 FT units (each, an “FT Unit”) at a price of $0.175 per FT Unit, for aggregate gross proceeds of $350,000.
Key Points:
- a private placement offering (the “Offering”) of up to 10,000,000 non-flow through units (“NFT”) and up to 5,714,285 flow-through (“FT”) units, as well as, ii.)
- the closing of the first tranche of the Offering, respectively, it has closed the second tranche of the Offering (the “Second Tranche”) by issuing 2,000,000 FT units (each, an “FT Unit”) at a price of $0.175 per FT Unit, for aggregate gross proceeds of $350,000.
- The securities issued from the Second Tranche are subject to a statutory hold period of four months and one day from November 24, 2023.
- In connection with the closing of the Second Tranche, an aggregate of $21,000 was paid in cash and a total of 120,000 finder’s warrants (each, a “Finder’s Warrant”) were issued as finder’s fees.
Retrieved on:
Wednesday, November 15, 2023
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Athabasca Regional Airport,
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Security (finance) CALGARY, Alberta, Nov. 14, 2023 (GLOBE NEWSWIRE) -- Traction Uranium Corp. (CSE: TRAC) (OTCQB: TRCTF) (FRA: Z1K) (the “Company” or “Traction”) is pleased to announce that, further to its news release of October 27, 2023 which announced: i.) a non-brokered private placement of up to 10,000,000 units of the Company (each, a “Unit”) pursuant to the listed issuer financing exemption (“LIFE Exemption”) for gross proceeds of up to $1,500,000 (the “LIFE Offering”); and, ii.) a non-brokered private placement of up to 5,714,285 flow-through units of the Company (each, an “FT Unit”) for gross proceeds of up to $1,000,000 (the “FT Units Offering”), it has closed the first tranche of the LIFE Offering and the FT Units Offering (the “First Tranche”) by issuing 793,334 Units at a price of $0.15 per Unit, and 3,589,144 FT Units at a price of $0.175 per FT Unit, for aggregate gross proceeds of $747,100.30.
Key Points:
- a non-brokered private placement of up to 10,000,000 units of the Company (each, a “Unit”) pursuant to the listed issuer financing exemption (“LIFE Exemption”) for gross proceeds of up to $1,500,000 (the “LIFE Offering”); and, ii.)
- a non-brokered private placement of up to 5,714,285 flow-through units of the Company (each, an “FT Unit”) for gross proceeds of up to $1,000,000 (the “FT Units Offering”), it has closed the first tranche of the LIFE Offering and the FT Units Offering (the “First Tranche”) by issuing 793,334 Units at a price of $0.15 per Unit, and 3,589,144 FT Units at a price of $0.175 per FT Unit, for aggregate gross proceeds of $747,100.30.
- The proceeds from the LIFE Offering are intended to be used to advance the Company’s three flagship uranium projects in the Athabasca Region and for other general corporate purposes.
- The securities issued from the FT Units Offering are subject to a statutory hold period of four months and one day from November 14, 2023.
Retrieved on:
Thursday, November 2, 2023
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Athabasca The survey was conducted over the entire Grease River claims totaling 10,528 hectares along the Grease River Shear Zone (Figure 1).
Key Points:
- The survey was conducted over the entire Grease River claims totaling 10,528 hectares along the Grease River Shear Zone (Figure 1).
- The total domain EM data has outlined several prospective conductive trends along and north of the Grease River shear zone.
- The survey has also outlined several conductive trends that require follow-up in the East block claims (Figure 3).
- The southern claim block rests within the Athabasca Basin and the northern claim block is outside the Athabasca Basin.
Retrieved on:
Saturday, October 28, 2023
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Section 50C of the Isle of Man Income Tax Act 1970,
Foreign Investment in Real Property Tax Act,
Income Tax Act,
Security (finance),
Life insurance,
Financial adviser CALGARY, Alberta, Oct. 27, 2023 (GLOBE NEWSWIRE) -- Traction Uranium Corp. (CSE: TRAC) (OTCQB: TRCTF) (FRA: Z1K) (the “Company” or “Traction”) announces amendments to the terms of its non-brokered private placement financing pursuant to the listed issuer financing exemption (the “LIFE Exemption”) under Part 5A.2 of National Instrument 45-106 – Prospectus Exemptions (“NI 45-106”) previously announced on September 27, 2023 (the “LIFE Offering”); and further announces an additional non-brokered private placement of up to 5,714,285 flow-through units of the Company (the “FT Units”) for gross proceeds of up to $1,000,000 (the “FT Units Offering”).
Key Points:
- The net proceeds of the LIFE Offering are intended to be used to advance the Company’s three flagship uranium projects in the Athabasca Region and for other general corporate purposes.
- Finders’ fees may be payable to eligible arm’s length persons with respect to certain subscriptions accepted by the Company.
- Therefore, the securities issued in connection with the LIFE Offering will not be subject to resale restrictions in accordance with applicable Canadian securities laws.
- The securities comprising the FT Units will be subject to a hold period expiring four months and one day from the date of the applicable closing of the FT Units Offering.
