Traction Uranium Corp. has closed its non-brokered private placement, issuing 789,500 units at C$0.95 per unit for aggregate gross proceeds of C$750,025 to fund exploration across its mineral properties.

Each unit under the offering consists of one flow-through common share and one-half of one transferable common share purchase warrant. Each whole warrant entitles the holder to acquire a non-flow-through common share at an exercise price of C$1.05 for 24 months from issuance. In connection with the closing, the company issued 789,500 flow-through shares and 394,750 warrants.

Gross proceeds will be used to incur eligible Canadian exploration expenses qualifying as flow-through mining expenditures, primarily on the Aurora Uranium Project in Saskatchewan’s Athabasca Basin. Traction Uranium intends to renounce these expenses to initial purchasers with an effective date no later than December 31, 2026.

To facilitate its focus on Aurora, Traction Uranium terminated its option agreement for the Hearty Bay Project in July 2026 to concentrate its resources and exploration efforts on the property. Traction holds an option to acquire an 80% interest in Aurora from Cosa Resources Corp.

In connection with the closing of the offering, the company paid aggregate finder's fees of C$49,651.75 in cash and issued 52,265 finder's warrants, carrying an exercise price of C$1.05 and a 24-month term. All securities issued under the offering are subject to a four-month and one-day statutory hold period expiring on December 29, 2026.

Activity across the surrounding Athabasca region remains active. CanAlaska Uranium Ltd. reported drill results from its West McArthur project within the surrounding district, intersecting 5.4 metres grading 1.48% U3O8, including 0.4 metres grading 10.5% U3O8.

Read the full announcement: Traction Uranium Announces Closing of Non-Brokered Flow-Through Private Placement