PTX Metals' Subsidiary, Green Canada Corporation Announces Closing of Private Placement
Rhea-AI Summary
Green Canada Corporation (PANXF), a 50.73% subsidiary of PTX Metals, closed the first tranche of a previously announced $500,000 private placement on January 16, 2026. The company issued 2,369,230 common shares at $0.13 per share for gross proceeds of $308,000, with the shares subject to a statutory hold period of four months and one day. Net proceeds are expected to be used for general working capital and corporate purposes.
GCC also granted 7,725,000 incentive stock options at an exercise price of $0.14 per share expiring January 19, 2031, subject to vesting and the same statutory hold period; 3,750,000 options expired during the year ending December 31, 2025 and in January 2026.
Positive
- Raised $308,000 from first tranche of private placement
- Options granted may align directors/officers with shareholder interests
Negative
- 7,725,000 options granted could cause future dilution if exercised
- Issued shares subject to 4 months+1 day hold, limiting immediate trading
News Market Reaction
On the day this news was published, PANXF declined 1.35%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Toronto, Ontario--(Newsfile Corp. - January 19, 2026) - Green Canada Corporation ("GCC" or the "Company"), a
The common shares issued pursuant to the Private Placement are subject to a statutory hold period of four months and one day after the later of (a) January 16, 2026, the closing date for the first tranche of the Private Placement, and (b) the date the Company became a reporting issuer in any province or territory. The net proceeds of the Private Placement are expected to be used for general working capital and corporate purposes.
PTX granted 7,725,000 incentive stock options (the "Options") to certain directors, officers and consultants of the Company. Each Option permits an optionee to acquire one common share (an "Option Share") in the capital of the Company at any time at a price of
The Company further notes that during the year ending December 31, 2025 and in January 2026, 3,750,000 Options expired.
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
About PTX Metals Inc.
PTX is a minerals exploration Company focused on high-quality critical mineral projects, including two flagship projects situated in northern Ontario, a mining jurisdiction renowned for its abundance of mineral resources and investment opportunities. The corporate objective is to advance the exploration programs towards proving the potential of each asset, which includes the W2 Copper Nickel PGE Project and South Timmins Gold Joint Venture Project.
PTX's portfolio of assets offers investors exposure to some of the world's most valuable metals including gold, as well as essential critical minerals for the clean energy transition: copper, PGE, nickel, uranium and rare metals. PTX's portfolio of assts was strategically acquired for their geologically favorable attributes, and proximity to established mining companies. PTX mineral exploration programs are designed by a team of expert geologists with extensive career knowledge gained from their tenure working for global mining companies in northern Ontario and around the world.
PTX is based in Toronto, Canada, with a primary listing on the TSXV 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 on PTX Metals, please contact:
Greg Ferron, President and Chief Executive Officer
Phone: 416-270-5042
Email: gferron@ptxmetals.com
For further information on Green Canada Corporation, please contact:
Rick Mazur
Phone: 778-772-3100
Email: mazur@miradorgold.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 the Company 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 the Company will use the proceeds of the Private Placement as anticipated. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by 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 the Company's plans or expectations include the risk that the Company will not use the proceeds of the Offering 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 the Company with securities regulators.
Although the Company has 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.
The Company 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/280859
FAQ
How much did Green Canada Corporation (PANXF) raise in the first tranche of the January 2026 private placement?
What is the total target size of the Green Canada Corporation private placement announced earlier in January 2026?
How many incentive stock options did Green Canada Corporation (PANXF) grant on January 19, 2026 and at what price?
When do the granted options for Green Canada Corporation (PANXF) expire?
Are the shares issued in GCC's private placement immediately tradable for investors?
How many options expired at Green Canada Corporation during the year ending December 31, 2025 and in January 2026?
