Green Canada Uranium Corp. was officially established on September 1, 2026, when the reverse takeover between Green Canada Corporation and MAACKK Capital Corp. closed through a triangular merger. Shares are expected to begin trading on the TSX Venture Exchange under the symbol GCUC around September 9, with a Tier 2 Mining Issuer classification.
The company’s flagship asset is the Marshall Project, comprising seven mineral claims totalling 11,225 hectares in Saskatchewan’s Athabasca Basin — the Canadian region home to some of the highest-grade uranium deposits in the world. Green Canada acquired a 100% interest from Basin Energy Marshall, a subsidiary of Basin Energy Limited (ASX: BSN). The purchase price consists of CAD 600,000 payable in four annual instalments of CAD 150,000 each, plus an additional CAD 300,000 — partly in shares (588,235 shares issued at CAD 0.17) and the remainder in cash over two years. Basin Energy also received 6,376,066 shares representing 9.99% of the company at closing, and retains a three-year right of first refusal on any future disposal of the project. It may also back-in for up to a 25% interest for CAD 1 million, an option valid until the fifth anniversary of the transaction or until CAD 10 million has been spent on exploration.
An operational plan is already in place. CanAlaska Uranium Ltd. will manage the initial work programme as operator, earning a management fee equal to 20% of exploration expenditures. Green Canada has committed to investing at least CAD 1.5 million on the Marshall Project over the next 24 months. Drilling is expected to begin as early as September 2026 — less than a month after the company’s listing. A second project is already on the radar: an exclusivity agreement signed in February with CanAlaska and Basin gives Green Canada nine months to evaluate the North Millennium Project and the opportunity to acquire up to a 51% interest.
The financing concurrent with the reverse takeover raised a total of CAD 991,348, comprising 955,000 flow-through units at CAD 0.20 and 3,201,392 charity flow-through units at CAD 0.25, against a minimum guaranteed total of CAD 2.85 million required under TSXV conditions. The management team brings direct sector experience: Richard Mazur, a geoscientist with over 45 years in the industry and founder of Forum Energy Metals, serves as Executive Chairman. Greg Ferron, formerly in senior roles at Laramide Resources, Treasury Metals, and TMX Group, is President and CEO.
PTX Metals (TSXV: PTX), a key shareholder during the company’s formation, retains a significant stake in GCUC and uses the transaction to sharpen its focus on its Ontario portfolio: the W2 copper-nickel-PGE project and the South Timmins gold assets. Divesting direct exposure to the Marshall Project reduces PTX’s operating costs while preserving upside potential tied to GCUC’s listing. The Athabasca Basin remains one of the most sought-after uranium exploration destinations in the world, and Green Canada Uranium enters the market with an operational asset and a drill programme ready to launch.
