With a share of 50.73%, PTX Metals Inc. (CSE: PTX, FSE: 9PX, WKN: A0MVNG) held more than half of all outstanding shares of Green Canada Corporation (GCC) until a few days ago. This share has now fallen to 48.02% as a result of the recently implemented capital increase. Originally, the dilution was supposed to be somewhat less. However, investor interest in the PTX Metals subsidiary was so great that the private placement, originally planned with a volume of 500,000 Canadian dollars (CAD), was increased to 750,000 CAD.
The strong interest from investors now means that a total of 5,769,231 new common shares of Green Canada Corporation will be issued at a price of CAD 0.13 per share. The increase in the offering by 2,022,500 common shares will provide Green Canada Corporation with an additional CAD 262,925 in new working capital before all costs.
The changed majority ownership means that Green Canada Corporation will no longer be regarded as a subsidiary of PTX Metals in the future. Rather, the company will be managed as an independent company that will publish its own press releases independently of PTX Metals. However, PTX Metals remains by far the most important anchor shareholder of Green Canada Corporation and will continue to support the fortunes of the young company.
The planned name change to Green Canada Uranium Corp. puts the exploration focus more in the foreground
The reverse takeover of MAACKK Capital Corp. is also expected to be completed shortly. The shareholders of MAACKK Capital Corp. still have to give their approval to this agreement, which is to take place on February 26, 2026 at an extraordinary general meeting convened specifically for this purpose.
As soon as this approval is available, all judicial and regulatory requirements have been met and the name change has been completed, the new Green Canada Uranium Corp. can concentrate on the development of its uranium deposits in the Canadian province of Saskatchewan. They are extremely attractive and the decisive reason why investors have shown such great interest in the former PTX Metals subsidiary.
Green Canada’s flagship Marshall project, which the company will acquire in connection with the planned reverse takeover of Basin Energy Limited, is located only about eleven kilometers from the well-known North Millennium project. This is being developed by industry leader Cameco, which holds 69.9% of all shares, and is also only about 20 kilometers from Cameco’s McArther project in the Athabasca Basin.
Indirectly via Green Canada Uranium, PTX Metals shareholders will soon also be active in the uranium sector
This small detail is likely to make connoisseurs of the uranium sector sit up and take notice immediately, because Cameco’s McArther mine is the world’s second-largest production center for uranium. Knowing that this renowned project is only a proverbial geological stone’s throw away from its own properties was certainly a decisive motive for many of the new investors to participate in Green Canada Uranium via the recent capital increase.
Even if uranium is not the focus of PTX Metals’ own research and development work, investors in PTX can still look forward to indirectly participating in a very attractive and extremely exciting development perspective in the uranium sector.
