Green Canada Uranium Corp. has closed its reverse takeover transaction with Green Canada Corporation, alongside a concurrent private placement raising aggregate gross proceeds of $991,348, with trading of the resulting issuer shares expected to commence on or around September 9, 2026, on the TSX Venture Exchange under the symbol GCUC.

The transaction includes the acquisition of a 100% interest in the Marshall uranium project in the Athabasca Basin of Saskatchewan from Basin Energy Limited and Basin Energy Marshall, stemming from a definitive mineral rights purchase and sale agreement entered into on February 25, 2026. Under the terms of the acquisition, Green Canada has committed to fund a minimum $1,500,000 exploration program on the project within 24 months of closing. Consideration payable for the project includes $600,000 in cash paid across four equal installments over three years, with the first installment due at closing, alongside $300,000 payable via $100,000 in shares at closing and $200,000 in cash over two years. Basin Energy also received 6,376,066 resulting issuer shares, representing 9.99% of the total issued and outstanding shares on a non-diluted basis following completion.

CanAlaska Uranium Ltd. has been appointed as the operator for the Marshall project pursuant to an operator agreement dated February 25, 2026, and will receive an operator fee equal to 20% of initial exploration expenditures. Concurrently, CanAlaska and Basin Energy granted Green Canada a nine-month exclusivity period to conduct due diligence and negotiate an earn-in option to acquire up to a 51% interest in the North Millennium Project, also located in the Athabasca Basin. In consideration for this exclusivity right, Green Canada issued 600,000 resulting issuer shares to CanAlaska and 400,000 resulting issuer shares to Basin Energy.

CanAlaska reported assay results from the West McArthur project within the surrounding district in August 2026, highlighted by drillhole WMA101-02 intersecting 5.4 metres grading 1.48% U3O8, including a 0.4-metre interval grading 10.5% U3O8.

Prior to closing the reverse takeover, the company completed its continuance from Alberta to Ontario, consolidated its common shares on a 6.25 to 1 basis, and changed its name from MAACKK Capital Corp. to Green Canada Uranium Corp. The private placement comprised 3,201,392 charity flow-through units at $0.25 per unit and 955,000 flow-through units at $0.20 per unit. In connection with the reverse takeover and related financings, the company raised a total of $2,922,580.

Following the completion of the reverse takeover, private placement, project acquisition, and exclusivity share issuances, the company has 63,824,480 resulting issuer shares, 3,928,039 resulting issuer warrants, and 2,950,000 options issued and outstanding. PTX Metals Inc. holds 18,166,700 resulting issuer shares, representing approximately 28.46% of the company on a non-diluted basis, while Basin Energy holds 7,324,062 shares, representing approximately 11.54%. Richard J. Mazur serves as Executive Chairman and Director, and Greg Ferron serves as President, Chief Executive Officer and Director. Baker Tilly WM LLP has been appointed as the company's auditor, replacing MNP LLP.

Read the full announcement: Green Canada Uranium Announces Closing of Reverse Takeover, Concurrent Financing and Acquisition of the Marshall Project