Traction Uranium Responds to OTC Markets Request on Recent Promotional Activity
CALGARY, Alberta, Jan. 26, 2023 (GLOBE NEWSWIRE) -- Traction Uranium Corp. (CSE: TRAC) (OTC: TRCTF) (FRA: Z1K) (the “Company” or “Traction”) has received a request from OTC Markets Group Inc. (“OTC Markets”) to issue a statement about recent promotional activity concerning the Company and its common shares (the “Common Shares”), including the distribution of promotional newsletter emails published by Future Money Trends, LLC, Lion Capital Investment Limited, MIC Market Information & Content Publishing GmbH and Tamarack Advisors, and their respective affiliates (collectively, the “Advertisers” and each an “Advertiser”) discussing the Company, its business, and the uranium industry in general (the “Materials”). The Company believes the recent promotional activities commenced on or about January 16, 2023, and notes that the anticipated commencement of such activities was within the Company’s knowledge and disclosed in a news release dated January 13, 2023.
Each Advertiser is a third-party marketing firm retained by the Company to provide communications and media services and to amplify the distribution of Company news release content. The Company does not believe the statements in the Materials were false or misleading, and notes that it provides the Advertisers with publicly available sources of information for the Materials, and provides sign off on content in the Materials. The Company notes that it has had marketing campaigns in place during the past 12 months, and does not believe they have resulted in any unusual trading activity, though they have resulted in more investors becoming aware of the Company and its activities, which could affect trading volumes.
In the last 12 months, the Company has engaged, in addition to the Advertisers, TD Media, LLC, Financial Star News Inc., Wall Street Investor Club, and FN Media Group (together, with the Advertisers, the “Service Providers”) to provide marketing services, including digital content creation, distribution, and market awareness campaigns. The appointment of the Service Providers, the nature of the relationship with the Company and compensation to be paid were publicly disclosed in news releases dated January 28, 2022, January 31, 2022, February 28, 2022, March 25, 2022, April 12, 2022, June 9, 2022, August 19, 2022, September 26, 2022, October 28, 2022, December 13, 2022 and January 13, 2023.
The Company notes that, to its knowledge, after inquiry of management, no directors, officers, control persons or third-party service providers traded in the Company’s securities within the past 90 days. Further, the Company has not issued any shares or convertible instruments allowing conversion to equity securities at prices constituting a discount to the market rate at the time of the issuance.
The Company is committed to compliance with the OTC Markets Group Policy on Stock Promotion and the OTCQB Standards. The Company encourages those interested in the Company to rely solely on information included in press releases issued and distributed by the Company via approved newswire or Disclosure & News Services combined with its filings and disclosures made with the Canadian securities regulators and the Canadian Securities Exchange and available on their websites: www.sedar.com and www.thecse.com, respectively.
Chief Executive Officer
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The CSE has neither approved nor disapproved the information contained herein.