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M&A / Property

Gencan Capital Inc. Announces Proposed Reverse Takeover by Ubercrete Advanced Materials Inc.

By The Northwire Desk — AI Analysis Mar 17, 2026 · 07:30 GCA · 0.39 Gencan Capital Inc.
GCA · Price

Executive Summary

  • Gencan Capital Inc. entered into a Letter Agreement with Ubercrete Advanced Materials Inc. to effect a reverse takeover, whereby Ubercrete will become the holding company of the combined entity.
  • The transaction will involve consolidation of Gencan’s shares on a 2:1 basis, a one‑for‑one exchange of Ubercrete securities for shares of the resulting issuer, and replacement of all directors and officers with Ubercrete nominees.
  • Prior to or concurrent with closing, Ubercrete plans a private placement of up to C$5 million at C$0.25 per share to fund the combination.

Key Details

  • Letter Agreement Date: March 16, 2026.
  • Proposed Structure: Amalgamation, arrangement, share exchange or similar transaction resulting in Ubercrete becoming the holding company; resulting issuer shares to be listed on the Canadian Securities Exchange (CSE).
  • Share Consolidation: Gencan’s outstanding shares will be consolidated on a 2:1 basis.
  • Exchange Ratio: One‑for‑one exchange of Ubercrete securities for shares of the Resulting Issuer.
  • Corporate Changes: Post‑closing, all directors and officers of Gencan will be replaced by nominees of Ubercrete; company name to be changed at Ubercrete’s discretion; possible adoption of a new option plan.
  • Conditions to Closing:
  • Receipt of required third‑party consents and corporate/regulatory approvals.
  • Conditional CSE listing approval for the Resulting Issuer shares.
  • Satisfactory due diligence by both parties.
  • Execution of definitive agreement.
  • No material adverse change to either party.
  • Financing (Ubercrete): Private placement of common shares up to C$5,000,000 at C$0.25 per share; final terms (structure, fees) to be disclosed in subsequent releases.
  • Regulatory Disclosures: Transaction subject to tax, corporate and securities law advice; forward‑looking statements included with standard cautionary language.

Notable Quotes

(No direct quotes were provided in the release.)

Read the original news release →

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