On May 11, 2023, Traction Uranium Corp., closed the transaction. The company has has issued 5,644,312 flow through units on an oversubscribed basis at a price of CAD 0.45 per flow through unit for gross proceeds of CAD 2,539,940.40. Each flow through unit consists one common share and one-half (1/2) warrant, whereby each whole warrant is exercisable into one share at an exercise price of CAD 0.55 until May 9, 2025, being the date that is 24 months from the date of issue.

As a part of transaction, the company will pay an aggregate cash finder's fees of CAD 125,399.41 and issued a total of 271,966 finder's warrants. Each finder's warrant is exercisable into one share at an exercise price of CAD 0.55 until May 9, 2025, being the date that is two years from the date of issue. All securities issuable in connection with the second and final tranche are subject to a statutory hold period, in accordance with applicable securities laws, of four months and one day from the date of issue, expiring September 10, 2023.