PTX Metals' Investee Company Green Canada Received Conditional Approval for TSXV Listing Application and Announced Concurrent Financing
Rhea-AI Summary
PTX Metals (OTCQB: PANXF) announced that its investee Green Canada Corporation and MAACKK Capital received conditional TSX Venture Exchange approval for the listing of the RTO resulting issuer, to be renamed Green Canada Uranium Corp.
Closing of the reverse takeover and listing remains subject to GCC completing a Concurrent Financing of at least $2,850,000, of which $1,931,232 has been raised, a three‑cornered amalgamation and remaining TSXV conditions. Net proceeds are earmarked for a 1,600-metre drill program on the Marshall Project, whose acquisition from Basin Energy entities is expected immediately after the RTO closes. MAACKK must also settle all debt, complete a 6.25:1 share consolidation, and continue from Alberta to Ontario.
Positive
- Conditional TSXV approval secured for listing of Green Canada RTO resulting issuer
- Concurrent Financing minimum of $2,850,000, with $1,931,232 already raised
- Marshall Project acquisition to follow RTO, funding a 1,600-metre drill program
- RTO structure includes one-for-one exchange into Resulting Issuer shares and warrants
Negative
- RTO closing remains conditional on completing minimum $2,850,000 financing and TSXV conditions
- GCC still needs to raise about $918,768 to meet Concurrent Financing minimum
- MAACKK must eliminate all outstanding debt before RTO closing
- MAACKK required to complete a 6.25:1 share consolidation and corporate continuance
News Market Reaction – PANXF
In the Jul 15 session, PANXF declined 2.91%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
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Toronto, Ontario--(Newsfile Corp. - July 15, 2026) - PTX Metals' (TSXV: PTX) (OTCQB: PANXF) (FSE: 9PX) investee company Green Canada Corporation ("GCC"), and MAACKK Capital Corp. ("MAACKK") are pleased to announce that the TSX Venture Exchange (the "TSXV" or the "Exchange") has conditionally approved the listing application of the resulting issuer (the "Resulting Issuer") in connection with the previously announced reverse takeover (the "RTO") of MAACKK by the shareholders of GCC. Upon completion of the RTO, the Resulting Issuer will be renamed "Green Canada Uranium Corp.".
GCC also recently closed private placements raising, in aggregate, gross proceeds of
Closing of the RTO is subject to, among other things, completion of a concurrent financing by GCC for aggregate gross proceeds of a minimum of
The information in this news release concerning GCC, MAACKK and the RTO has been provided by GCC.
For more information regarding the RTO, please see GCC's press releases dated Nov 24, 2025, and March 4, 2026.
Details on the Concurrent Financing by GCC were disclosed in a press release dated July 15, 2026.
Upon closing of the RTO, each Subscribed Share will be exchanged for one Resulting Issuer share, and each whole Warrant will be exchanged for one warrant of the Resulting Issuer with equivalent terms. The Private Placement is expected to close concurrently with the RTO on or around August 7, 2026.
Marshall Project Acquisition
Immediately following the closing of the RTO, GCC will complete the previously announced acquisition of Basin Energy Marshall Corp.'s
Prior to the closing of the RTO, MAACKK is required to: (i) complete a debt settlement transaction to eliminate all of its outstanding indebtedness; (ii) consolidate all of its issued and outstanding common shares on the basis of 6.25 pre-consolidation shares for one post-consolidation share; and (iii) continue from the Province of Alberta under the Business Corporations Act (Alberta) into the Province of Ontario under the Business Corporations Act (Ontario).
About PTX Metals Inc
PTX is a proudly Canadian mineral exploration company advancing gold and critical minerals projects in Northern Ontario, including its W2 copper-nickel-PGE project in the Ring of Fire and the Shining Tree Gold Project in the Timmins Gold Camp. The province of Ontario is a renowned mining jurisdiction known for its abundance of critical minerals and stable regulatory environment.
Our corporate objective is to advance our assets and unlock the potential of our two Flagship Projects: the W2 Cu-Ni-PGE located close to existing winter road infrastructure at the gateway to the strategic Ring of Fire region and the Shining Tree Gold Project, neighbouring other known deposits in the Timmins Gold Camp.
PTX's portfolio of assets was strategically acquired for their geologically favorable attributes, and proximity to established mining companies.
PTX is based in Toronto, Canada, with a primary listing on the TSX under the symbol PTX. The Company is also listed in Frankfurt under the symbol 9PX and on the OTCQB in the United States as PANXF.
For additional information on PTX, please visit the Company's website at https://ptxmetals.com/.
For further information, please contact
Greg Ferron, President and Chief Executive Officer
1 (416) 270-5042
gferron@ptxmetals.com
Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Disclosure regarding forward-looking statements
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. "Forward-looking information" includes, but is not limited to, statements with respect to the activities, events or developments that GCC or MAACKK expects or anticipates will or may occur in the future, including the anticipated use of proceeds from the Private Placement. Generally, but not always, forward-looking information and statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will ", "occur" or "be achieved" or the negative connation thereof.
Such forward-looking information and statements are based on numerous assumptions, including among others, that GCC will use the proceeds of the Private Placement and close the RTO and the Marshall Project Acquisition as anticipated. Although the assumptions made by GCC in providing forward-looking information or making forward-looking statements are considered reasonable by GCC's management at the time, there can be no assurance that such assumptions will prove to be accurate.
There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from GCC's plans or expectations include the risk that GCC will not use the proceeds of the Private Placement or close the RTO and the Marshall Acquisition as anticipated, risks relating to availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by GCC with securities regulators.
Although GCC and MAACKK have attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information.
PTX expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/305230