Northwire Canada EditionFriday, November 13, 2026
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Financings

Green Canada Corporation Announces Private Placement

PTX Relinquishes Majority Control of Uranium Subsidiary as Spin-Out Financing Progresses

By The Northwire Desk — AI Analysis Jan 08, 2026 · 08:01 PTX · 0.125 PTX Metals Inc.
Executive Summary

The news release on January 8, 2026, announces a private placement for PTX Metals’ subsidiary, Green Canada Corporation (GCC). GCC is raising $500,000 through the issuance of 3,846,154 units at $0.13 per share. This financing is a prerequisite for the previously announced reverse takeover (RTO) agreement with MAACKK Capital Corp. Crucially, the financing will dilute PTX Metals' ownership in GCC from a majority stake of 54.33% to a minority stake of 48.72% on a non-diluted basis. The RTO remains subject to regulatory approvals and the listing of the resulting issuer on the Canadian Securities Exchange (CSE).

Material Impact
  • Ownership Shift: The transition from 54.33% to 48.72% is a material corporate shift. PTX will no longer have de jure control over GCC, moving from a parent-subsidiary relationship to being a significant minority shareholder in a separate public entity.
  • Funding Progress: The $500,000 raise, while small, validates the $0.13 price point for GCC and demonstrates momentum toward the RTO. This allows GCC to self-fund its obligations for the Marshall Uranium Project without further depleting PTX’s treasury.
  • Project Focus: This move allows PTX to focus capital on its flagship W2 and Shining Tree projects while retaining significant exposure to the uranium sector through its 48.72% equity position in the new issuer.
  • Continuity: The news is in line with the "Game Changer" announcement from November 24, 2024, confirming that the strategic spin-out of the uranium assets is proceeding as planned.
PTX · Price
Company Overview

PTX Metals is a Canadian explorer focused on critical minerals and gold in Ontario. Its flagship asset is the W2 Copper-Nickel-PGE Project in the Ring of Fire region. The project features an 8km mineralized strike length with an exploration target of 59 million to 135 million tonnes. Recent drilling (Phase 1 2025) confirmed massive widths of mineralization, including a 235m intercept starting near the surface. The company also holds the Shining Tree Gold Project and the Heenan-Mallard Gold Project (JV with Fancamp).

Read the original news release →

More from PTX Metals Inc.

Sep 16, 2026 · 08:01

PTX Metals advances exploration while awaiting pending assay results for its projects.

Drill Results Sep 14, 2026 · 08:01

PTX resumes W2 drilling following the completion of its spin-out, as the stock languishes near multi-month lows.

Drill Results Sep 01, 2026 · 08:16

PTX completes its spin-out to streamline focus on its Ontario copper and gold assets.

M&A / Property Aug 17, 2026 · 08:08

Locked-cycle tests confirm high copper recovery at the W2 deposit, supporting the bulk-tonnage potential of the PTX project.

Technical Study Jul 15, 2026 · 09:10

GCC receives TSXV listing approval, bringing PTX’s indirect uranium play closer to closing.

Financings Jun 29, 2026 · 09:37

PTX advances its W2 exploration permit and metallurgy results as infrastructure momentum builds within the Ring of Fire region.

Production / Operations