Cascadia Minerals completes Granite Creek acquisition

Executive Summary

• Cascadia Minerals Ltd. completed a court‑approved plan of arrangement acquiring 100 % of Granite Creek Copper Ltd., creating a leading Yukon copper‑gold explorer.
• Each Granite Creek share was exchanged for 0.25 Cascadia common shares, resulting in the issuance of 53,070,848 Cascadia shares and conversion of existing Granite Creek options/warrants into Cascadia equivalents.
• Subscription receipt financing from a prior private placement converted 14,459,894 receipts into Cascadia shares and warrants, generating $2.02 M in gross proceeds; additional finder fees of $82,223 were incurred.

Key Details

• Transaction Structure: Court‑approved plan of arrangement under the BC Business Corporations Act; effective on the date of release.
• Share Exchange Ratio: 1 Granite Creek share → 0.25 Cascadia common share.
• Shares Issued to Former Granite Creek Shareholders: 53,070,848 Cascadia shares.
• Option/Warrant Conversion:
• 3,747,500 Granite Creek stock options exchanged for 3,747,500 Cascadia stock options (adjusted by exchange ratio).
• Warrants to acquire Granite Creek shares adjusted to permit acquisition of 11,036,291 Cascadia shares.
• Board Changes:
• Timothy Johnston (former Granite Creek CEO) joins Cascadia’s board.
• James Sabala and Kurt Allen resign from Cascadia’s board.
• Subscription Receipt Financing (from June 9 2025 private placement):
• 14,459,894 subscription receipts converted into Cascadia common shares and warrants.
• Gross proceeds released: $2,024,385.
• Warrants issued with exercise price C$0.24 per share, exercisable until 13 Aug 2027; no resale hold period in Canada.
• Finder Fees & Finder Warrants:
• Cash finder fees paid: $82,223.
• Finder warrants issued: 587,308 warrants to Castlewood Capital Corp., Integritas Inc., Ventum Financial Corp., and BT Global Growth Inc.; exercisable on the same terms as the financing warrants; subject to TSX‑V approval.
• Operational Highlights Post‑Combination:
• Combined portfolio includes the advanced‑stage Carmacks copper‑gold deposit (measured & indicated resource: 651 M lb Cu, 302,000 oz Au) and multiple discovery‑stage projects across Yukon’s Stikine terrane.
• Planning underway for a fully financed fall drill program at Carmacks; prospecting continues on Macks, Milner, Idaho Creek, Rosy, and Catch properties.

Notable Quotes

• Graham Downs, President & CEO, Cascadia: “We are very excited to complete this merger… 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 projects throughout Yukon’s underexplored Stikine terrane.”

Materiality Assessment: Material – Positive (completion of a significant acquisition that materially expands Cascadia’s asset base, alters share structure, and provides immediate financing proceeds.)