Cascadia and Granite Creek Complete Business Combination
Cascadia Minerals (TSXV: CAM) has completed the acquisition of Granite Creek Copper (TSXV: GCX, OTC: GCXXF) through a court-approved plan of arrangement, creating a leading Yukon copper-gold exploration company. Under the arrangement, Granite Creek shareholders received 0.25 Cascadia shares for each Granite Creek share, with Cascadia issuing approximately 53.1 million shares to former Granite Creek shareholders.
The merger consolidates an advanced-stage copper-gold deposit at the Carmacks Property and several discovery-stage projects in Yukon's Stikine Terrane. Additionally, Cascadia completed a subscription receipt financing raising C$2.02 million, with warrants exercisable at $0.24 per share until August 2027.
Cascadia Minerals (TSXV: CAM) ha completato l'acquisizione di Granite Creek Copper (TSXV: GCX, OTC: GCXXF) tramite un piano di ricomposizione approvato dal tribunale, dando vita a una società leader nell'esplorazione di rame e oro nello Yukon. Nell'ambito dell'operazione, gli azionisti di Granite Creek hanno ricevuto 0,25 azioni Cascadia per ogni azione Granite Creek, con Cascadia che ha emesso circa 53,1 milioni di azioni ai precedenti azionisti di Granite Creek.
La fusione unifica un giacimento in fase avanzata di rame e oro nella proprietà Carmacks e diversi progetti in fase di scoperta nel Stikine Terrane dello Yukon. Inoltre, Cascadia ha portato a termine un finanziamento tramite subscription receipts raccogliendo C$2,02 milioni, con warrant esercitabili a C$0,24 per azione fino ad agosto 2027.
Cascadia Minerals (TSXV: CAM) completó la adquisición de Granite Creek Copper (TSXV: GCX, OTC: GCXXF) mediante un plan de reorganización aprobado por un tribunal, creando una destacada compañía de exploración de cobre y oro en Yukón. En virtud del acuerdo, los accionistas de Granite Creek recibieron 0,25 acciones de Cascadia por cada acción de Granite Creek, y Cascadia emitió aproximadamente 53,1 millones de acciones a los antiguos accionistas de Granite Creek.
La fusión consolida un yacimiento de cobre y oro en etapa avanzada en la propiedad Carmacks y varios proyectos en fase de descubrimiento en el Stikine Terrane del Yukón. Además, Cascadia completó una financiación mediante subscription receipts por C$2,02 millones, con warrants ejercitables a C$0,24 por acción hasta agosto de 2027.
Cascadia Minerals (TSXV: CAM)가 법원 승인된 정관(arrangement) 절차를 통해 Granite Creek Copper (TSXV: GCX, OTC: GCXXF)를 인수해 유콘 지역의 주요 구리·금 탐사 회사로 자리잡았습니다. 이 합병에 따라 Granite Creek 주주들은 Granite Creek 주식 1주당 Cascadia 주식 0.25주를 받았으며, Cascadia는 이전 Granite Creek 주주들에게 약 5,310만 주를 발행했습니다.
이번 합병으로 Carmacks 자산의 고급 단계 구리·금 광상과 유콘의 Stikine Terrane에 있는 여러 발견 단계 프로젝트가 통합되었습니다. 또한 Cascadia는 subscription receipt 방식의 자금조달을 통해 C$2.02 million을 조달했으며, 워런트는 주당 C$0.24의 행사 가격으로 2027년 8월까지 행사할 수 있습니다.
Cascadia Minerals (TSXV: CAM) a finalisé l'acquisition de Granite Creek Copper (TSXV: GCX, OTC: GCXXF) par le biais d'un plan d'arrangement approuvé par la cour, créant ainsi une société d'exploration cuivre‑or de premier plan au Yukon. Dans le cadre de l'accord, les actionnaires de Granite Creek ont reçu 0,25 action Cascadia pour chaque action Granite Creek, Cascadia ayant émis environ 53,1 millions d'actions aux anciens actionnaires de Granite Creek.
La fusion rassemble un gisement cuivre‑or en phase avancée sur la propriété Carmacks et plusieurs projets en phase de découverte dans le Stikine Terrane du Yukon. De plus, Cascadia a réalisé un financement par subscription receipts de 2,02 M$ CA, avec des bons de souscription exerçables à 0,24 $CA par action jusqu'en août 2027.
Cascadia Minerals (TSXV: CAM) hat die Übernahme von Granite Creek Copper (TSXV: GCX, OTC: GCXXF) durch einen gerichtlich genehmigten Plan of Arrangement abgeschlossen und damit ein führendes Explorationsunternehmen für Kupfer und Gold im Yukon geschaffen. Im Rahmen der Vereinbarung erhielten Granite Creek-Aktionäre 0,25 Cascadia-Aktien für jede Granite Creek-Aktie, wobei Cascadia rund 53,1 Millionen Aktien an ehemalige Granite Creek-Aktionäre ausgegeben hat.
Die Fusion fasst ein fortgeschrittenes Kupfer‑Gold‑Vorkommen auf dem Carmacks-Grundstück und mehrere Entdeckungsprojekte im Stikine-Terrane des Yukon zusammen. Zudem hat Cascadia eine Subscription‑Receipt-Finanzierung in Höhe von C$2,02 Millionen abgeschlossen; die Warrants sind bis August 2027 zum Preis von C$0,24 je Aktie ausübbar.
- Creation of a leading Yukon copper-gold exploration company through strategic merger
- Access to advanced-stage Carmacks copper-gold deposit and multiple discovery-stage projects
- Successful completion of C$2.02 million financing to fund operations
- Fully-funded fall drill program planned at Carmacks Property
- Dilution for existing shareholders through issuance of 53.1 million new shares
- Additional potential dilution from 11.04 million warrants and 3.75 million stock options
Vancouver, British Columbia--(Newsfile Corp. - August 13, 2025) - Cascadia Minerals Ltd. (TSXV: CAM) (OTCQB: CAMNF) ("Cascadia") and Granite Creek Copper Ltd. (TSXV: GCX) (OTC Pink: GCXXF) ("Granite Creek") are pleased to announce the acquisition by Cascadia of all of the issued and outstanding common shares of Granite Creek (the "Granite Creek Shares") pursuant to a court-approved plan of arrangement under the Business Corporations Act (British Columbia) (the "Arrangement"). The Arrangement, which became effective as of today's date, merges Granite Creek into Cascadia to create a leading Yukon copper-gold exploration and development company.
Graham Downs, President and CEO of Cascadia, commented: "We are very excited to complete this merger, and we welcome Granite Creek Shareholders to Cascadia. The combined property portfolio provides our shareholders with exposure to an advanced-stage copper-gold deposit at the Carmacks Property and a compelling collection of discovery-stage copper-gold and epithermal gold projects throughout Yukon's underexplored Stikine Terrane. Planning is well underway for a fully-funded fall drill program at Carmacks that will focus on step-out drilling near high-grade portions of the deposit. In the meantime, crews are conducting prospecting work at our Macks, Milner, Idaho Creek and Rosy properties while we await results from our spring drilling at Catch."
Upon completion of the Arrangement, each Granite Creek shareholder received 0.25 (the "Exchange Ratio") of a Cascadia common share (each whole share, a "Cascadia Share") in exchange for each previously held Granite Creek Share, with Cascadia issuing a total of 53,070,848 million Cascadia Shares to former Granite Creek shareholders. Pursuant to the transaction, previously outstanding stock options of Granite Creek have been exchanged for 3,747,500 stock options of Cascadia, and warrants to acquire Granite Creek Shares have been adjusted to permit their holders to acquire a total of 11,036,291 Cascadia Shares, in each case by applying the Exchange Ratio to the number and exercise prices of such options and warrants.
Board of Directors of the Combined Company
Timothy Johnston, Granite Creek's former President and CEO has joined Cascadia's board of directors. James Sabala and Kurt Allen have resigned from Cascadia's board of directors. Cascadia would like to thank Mr. Sabala and Mr. Allen for their valuable contributions, and wish them well in their future endeavours.
Subscription Receipt Financing
Further to the private placement announced in Cascadia's June 9, 2025, news release and closed on July 3, 2025, a total of 14,459,894 subscription receipts have been converted into Cascadia Shares and warrants ("Warrants"), and gross proceeds of C
Cascadia has agreed to pay cash finders' fees totaling
Additional Information about the Arrangement
Further information regarding the Arrangement is set out in the news releases of Cascadia and Granite Creek dated June 9, 2025 and which has been publicly filed by Cascadia and Granite Creek under their respective profiles on SEDAR+ at www.sedarplus.ca and the management information circular of Granite Creek dated July 4, 2025 (the "Circular") which has been publicly filed under Granite Creek's profile on SEDAR+ at www.sedarplus.ca.
About Cascadia
Cascadia's flagship asset is the Carmacks Project in the high-grade Minto copper district in Yukon Territory, Canada. The project is located south of and within 35km of the past-producing Minto mine, which was recently acquired by Selkirk Copper Mines. The Carmacks Project hosts a Measured and Indicated Resource containing 651 Mlbs of copper and 302 koz of gold (36.3 million tonnes grading 0.81 % copper, 0.26 g/t gold, and 3.23 g/t silver and
Cascadia also has a pipeline of discovery stage copper-gold properties throughout the Yukon Stikine Terrane including its Catch Property, which hosts a copper-gold porphyry discovery where inaugural drill results returned broad intervals of mineralization (116.60 m of
QA/QC
The technical information in this news release has been approved by Andrew Carne, P.Eng., VP Corporate Development for Cascadia and a qualified person for the purposes of National Instrument 43-101.
Prospecting grab samples referenced in this release represent highlight results only, and include results from 2024 and previous seasons. Below detection values for copper, gold and silver have been encountered in grab samples in these target areas. For more details on Catch drilling and prospecting results, please see Cascadia's News Releases dated July 25, 2024, and July 19, 2023.
The Mineral Resources and economic analysis disclosed here are referenced from the 2023 Technical Report on the Carmacks Project Preliminary Economic Assessment, authored by SGS Canada Inc. for Granite Creek Copper. Pricing for the Carmacks Project PEA base case economic analysis was US
For further information, please contact:
Andrew Carne, M.Eng., P.Eng., VP Corporate Development
Cascadia Minerals Ltd.
T: 604-688-0111 ext. 106
acarne@cascadiaminerals.com
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
Cautionary note regarding forward-looking statements:
This press release may contain "forward-looking information" within the meaning of applicable securities laws. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this press release. Cascadia and Granite Creek undertake no obligation to update forward-looking information, except as required by securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/262320
FAQ
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