Traction Uranium issues 1.07 million units for debt

Executive Summary

• Traction Uranium partially converted and repaid $450,000 of its $500,000 unsecured convertible debentures.
• The conversion issued 1,071,429 units at a price of $0.42 per unit; each unit includes one common share and one warrant to purchase an additional share at $0.55 for 24 months.
• All newly issued securities are subject to the CSE statutory hold period (four months and one day).

Key Details

• Conversion Amount: $450,000 of principal converted out of a total $500,000 outstanding.
• Units Issued: 1,071,429 units at a conversion price of $0.42 per unit.
• Unit Composition: Each unit = 1 common share + 1 common share purchase warrant.
• Warrant Terms: Exercise price $0.55 per share; exercisable for 24 months from issuance date.
• Hold Period: Subject to Canadian Securities Exchange statutory hold period of four months and one day.
• Remaining Debt: $50,000 principal of the convertible debentures remains unconverted/unrepaid.

Notable Quotes

(No executive quotes provided in the release.)