Business
Green Canada Announces Private Placement
Toronto, Ontario--(Newsfile Corp. - January 8, 2026) - Green Canada Corporation ("GCC" or the "Company"), a 54.33% owned subsidiary of PTX Metals Inc. (TSXV: PT
About this update from Ptx Metals Inc
[{"type":"text","content":" Toronto, Ontario--(Newsfile Corp. - January 8, 2026) - Green Canada Corporation (\"GCC\" or the \"Company\"), a 54.33% owned subsidiary of PTX Metals Inc. (TSXV: PTX) (\"PTX\"), announced a non-brokered private placement (the \"Offering\") of up to 3,846,154 common shares of the Company at a price of $0.13 per share for aggregate gross proceeds of up to $500,000. Green Canada (Not PTX) may pay 7% cash finder fees in certain cases. Assuming the Offering is fully subscribed, PTX's shareholding in the Company will be reduced from approximately 54.33% to approximately 48.72% on a non-diluted basis. All securities issued pursuant to the Offering will be subject to a hold period of four months and one day after the later of (a) the closing date of the Offering and (b) the date the company became a reporting issuer in any province or territory. GCC has entered into a binding letter of intent (the \"RTO LOI\") dated November 13, 2025, with MAACKK Capital Corp. (\"MAACKK\") pursuant to which GCC and MAACKK intend to complete a transaction that would result in a reverse take-over of MAACKK by the shareholders of GCC (the \"Proposed RTO\"). Closing of the Proposed RTO will be subject to, among other things, requisite regulatory approval for the listing of the resulting issuer of the Proposed RTO on the Canadian Securities Exchange or such other stock exchange as may be mutually agreed upon by the parties. PTX's shareholders will directly benefit from the Proposed RTO through PTX's shareholding in GCC, unlocking immediate value not previously reflected. The closing of the Offering is not conditional upon closing of the Proposed RTO. The net proceeds of the Offering are expected to be used for general working capital and corporate purposes. About Green Canada Corporation GCC has assembled a diverse set of Canadian based uranium mineral properties focused on unconformity-style uranium deposits in the Athabasca Basin of Saskatchewan, the Baker and Amer Basins in Nunavut and the Otish Basin in Quebec. The flagship Marshall Project to be acquired by GCC from Basin Energy Limited in connection with the Proposed RTO and the adjacent North Millennium project areas are situated 11 km west of Cameco's 69.9% owned Millennium deposit and 20 km southwest of CanAlaska's Pike zone discovery on the West McArthur project in the Athabasca Basin of northern ...