PTX Metals' Investee Green Canada Corporation Secures Conditional TSXV Listing Approval and Plans Concurrent Financing Ahead of Uranium Corp Rebranding

Green Canada Uranium Corp. Receives Conditional TSXV Listing Approval

The TSX Venture Exchange has conditionally approved the listing of the resulting issuer from the reverse takeover of MAACKK Capital Corp. by Green Canada Corporation shareholders. Upon successful completion, the issuer will be renamed "Green Canada Uranium Corp.", signaling a clear focus on uranium assets within the Athabasca Basin, one of Canada's most prolific uranium regions.

While this conditional approval marks a significant regulatory milestone, it is not final. Completion depends on satisfying outstanding conditions such as securing the minimum concurrent financing, executing a three-cornered amalgamation, and meeting all remaining TSXV requirements. Investors should note that conditional approval does not guarantee final listing.

Reverse Takeover Structure Between GCC and MAACKK Capital Corp.

The transaction is structured as a reverse takeover whereby GCC shareholders gain control of MAACKK, a publicly listed capital pool company. Closing involves a three-cornered amalgamation among MAACKK, GCC, and a wholly owned MAACKK subsidiary created specifically for this purpose. This approach is commonly used in Canadian markets to bring private companies public through existing TSXV-listed shells.

Upon closing, each subscribed share will convert to one resulting issuer share, and each whole warrant will convert to one warrant with equivalent terms. The Private Placement and RTO are anticipated to close concurrently on or about August 7, 2026, contingent on meeting all conditions. Prior to closing, MAACKK must complete a debt settlement to clear all outstanding liabilities, consolidate its shares on a 6.25:1 basis, and continue its corporate jurisdiction from Alberta to Ontario under relevant provincial legislation.

Concurrent Financing Status and Requirements

A key condition for closing the RTO is completing a concurrent financing raising at least $2,850,000 gross proceeds. GCC has already secured $1,931,232 from private placements closed before this announcement, representing approximately 67.8% of the required minimum. The remaining $918,768 must be raised before closing. Full details of the concurrent financing were disclosed in a GCC press release dated July 15, 2026. Market participants will be closely watching GCC’s progress to meet the August 7, 2026 closing target.

Marshall Project Acquisition in Saskatchewan's Athabasca Basin

Following the RTO closing, GCC plans to complete the acquisition of Basin Energy Marshall Corp.'s 100% interest in the Marshall Project mineral claims located in the Athabasca Basin. This acquisition is governed by a mineral rights purchase and sale agreement dated February 25, 2026, amended on June 22, 2026, between GCC, Basin Energy Limited (ASX:BSN), and Basin Energy Marshall Corp.

The Athabasca Basin is globally recognized for its high-grade uranium deposits. This acquisition positions Green Canada Uranium Corp. as an early-stage uranium exploration company with a key asset in this premier region. Proceeds from the concurrent financing will fund a 1,600-metre drill program on the Marshall Project post-closing. Additional details on the Marshall Project and related transactions can be found in GCC’s March 4, 2026 press release.

Use of Concurrent Financing Proceeds for Drilling

The net proceeds from the concurrent financing will support a 1,600-metre drilling program on the Marshall Project in the Athabasca Basin. Such drilling aims to test geological targets and generate data to assess the mineral property's potential. In uranium exploration, drill results are critical for establishing or expanding resource estimates.

The announcement does not specify the drilling program’s cost or timeline beyond indicating it will occur after closing. Investors may anticipate further disclosures regarding the drill program’s scope, targets, and schedule as the RTO approaches the expected August 7, 2026 closing date.

PTX Metals’ Investee Role and Relationship with GCC

PTX Metals holds an equity interest in GCC but does not exercise operational control. The information about GCC, MAACKK, and the RTO was provided by GCC. PTX Metals serves primarily as a conduit of this information to its shareholders, given its investee connection to GCC.

PTX Metals focuses on gold and critical minerals exploration in Northern Ontario, with key assets including the W2 copper-nickel-PGE project in the Ring of Fire and the Shining Tree Gold Project in the Timmins Gold Camp—distinct from GCC’s uranium focus. The disclosure of GCC’s TSXV conditional approval and concurrent financing highlights PTX’s strategy of holding interests in complementary mineral ventures alongside its core exploration projects. The immediate impact on PTX Metals’ share price was not evident at the time of publication.

MAACKK Capital Corp. Pre-Closing Obligations and Corporate Continuance

Before completing the RTO, MAACKK Capital Corp. must satisfy three pre-closing conditions: settle all outstanding debt, consolidate its common shares on a 6.25:1 basis, and continue its corporate status from Alberta to Ontario under the respective Business Corporations Acts.

These steps are standard procedural requirements prior to amalgamation and listing. The share consolidation reduces MAACKK’s share count to align with the incoming operating company’s capital structure. The corporate continuance aligns with GCC’s and PTX’s Toronto, Ontario bases. The announcement does not disclose the amount of MAACKK’s outstanding debt or specific timelines for these steps beyond the projected August 7, 2026 closing date.

Background and Prior Announcements on the RTO Transaction

This announcement follows a series of prior disclosures: the initial RTO proposal on November 24, 2025; details on the Marshall Project acquisition on March 4, 2026; a private placement closing on June 8, 2026; and concurrent financing terms on July 15, 2026, the same day as the conditional TSXV approval.

The transaction has progressed through regulatory and financing stages over approximately eight months. Investors interested in PTX Metals and the GCC RTO are encouraged to review GCC’s full series of press releases for comprehensive context, including the definitive mineral rights purchase and sale agreement and its amendments.

PTX Metals’ Core Northern Ontario Operations Remain Independent of GCC Transaction

While the GCC and MAACKK RTO marks a significant investee development for PTX Metals shareholders, PTX’s operational focus remains on its flagship Northern Ontario projects. The W2 copper-nickel-PGE project is near winter road infrastructure at the gateway to the Ring of Fire, a region prioritized for critical minerals development. The Shining Tree Gold Project is located in the established Timmins Gold Camp.

PTX’s corporate objective centers on advancing these assets and leveraging their proximity to established mining companies. PTX Metals is primarily listed on the TSX Venture Exchange (TSXV:PTX), with additional listings on the Frankfurt Stock Exchange (FSE: 9PX) and OTCQB (PANXF) in the U.S. The GCC investee transaction represents a complementary strategic interest rather than a shift in PTX’s core exploration mandate.