PTX Metals Equity Holding Announces Closing of Green Canada Uranium Transaction
PTX completes its spin-out to streamline focus on its Ontario copper and gold assets.
PTX Metals Inc. announced the closing of a corporate transaction involving its equity holdings in Green Canada Corporation and MAACKK Capital Corp. The deal results in the creation of a new, separately listed entity, Green Canada Uranium Corp. (GCUC), which has acquired a 100% interest in the Marshall uranium project located in Saskatchewan's Athabasca Basin.
GCUC is expected to begin trading on the TSX Venture Exchange under the ticker "GCUC" around September 9, 2026. The move allows PTX to reduce administrative and carrying costs while sharpening its strategic focus on its core Ontario portfolio, specifically the W2 Copper-Nickel-PGE Project and the Shining Tree gold assets.
PTX retains significant exposure to GCUC's future success through its shareholding and plans to evaluate tax-efficient opportunities regarding this stake. Drilling at the Marshall project is scheduled to commence in September 2026.
PTX Metals Inc. (PTX) announced the spin-out of its Marshall uranium project, a corporate action initially disclosed via a binding letter of intent in November 2025 and approved by the TSX Venture Exchange in July 2026. The move serves to optimize the company’s portfolio by removing a non-core, high-cost uranium asset from its balance sheet and management focus.
PTX will retain a significant equity stake in GCUC, allowing shareholders to maintain indirect exposure to the Athabasca Basin uranium play without assuming operational responsibilities. This restructuring aligns with prior management guidance to streamline operations and concentrate resources on the W2 and Shining Tree projects.
PTX Metals Inc. is a Canadian exploration-stage mining company focused on critical minerals in Ontario. Its flagship assets include the W2 Copper-Nickel-PGE-Gold Project, located at the gateway to the Ring of Fire region in Northern Ontario. Recent metallurgical testing demonstrated 97% copper recovery into a 28% Cu concentrate, with significant palladium and gold upgrading.
The company also holds the Shining Tree Gold Project, located south of Timmins in the Abitibi Greenstone Belt. Recent drone magnetic surveys and structural analysis have identified the Ronda Target as drill-ready, following historic high-grade surface sampling.
Previously, the company held a controlling interest in Green Canada Corporation, which has now been spun out as a standalone uranium explorer.