Traction Uranium Closes C$500,000 Convertible Debenture Offering
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
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Source: Globenewswire
- Financing Size: Traction Uranium Corp. has successfully closed a C$500,000 non-brokered private placement of unsecured convertible debentures, with proceeds intended for general administrative expenses and working capital needs, thereby enhancing the company's financial flexibility.
- Interest Rate and Maturity: The convertible debentures carry an interest rate of 10% per annum and will mature 12 months from issuance, ensuring the company can secure funding at a low cost in the short term, thus improving its competitiveness in mineral development.
- Conversion Terms: Holders of the debentures can convert them into units at market price prior to maturity, with each unit consisting of one common share and one warrant, the exercise price of which is set at 110% of the market price, providing investors with additional potential upside.
- Regulatory Compliance: All securities issued are subject to a statutory four-month hold period, ensuring transparency in compliance and demonstrating the company's commitment to investor protection, which enhances market trust.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
