Green Canada Corporation and MAACKK Capital have moved forward with a proposed reverse takeover that would combine a public-market listing transaction with the acquisition of a uranium project in Saskatchewan’s Athabasca Basin.
The companies said they have entered into a business combination agreement under which MAACKK would be acquired by Green Canada’s securityholders in a proposed reverse takeover. The deal is central to a broader transaction package that also includes Green Canada’s planned purchase of the Marshall Project.
Green Canada said it signed a definitive mineral rights purchase and sale agreement dated February 25, 2026 with Basin Energy Limited for the acquisition of Basin Energy Marshall’s 100% interest in the Marshall Project. The property consists of mineral claims in the Athabasca Basin, one of Canada’s best-known uranium districts.
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The Marshall acquisition, however, is not a standalone transaction. Its closing is subject to several conditions, including the completion of the proposed reverse takeover.
Alongside the acquisition agreement, Green Canada also entered into a definitive operator agreement with Basin Energy and CanAlaska Uranium. Under that agreement, CanAlaska will become operator of the Marshall Project’s initial work program once the acquisition closes.
Green Canada also signed a definitive exclusivity agreement with Basin Energy and CanAlaska, giving Green Canada a nine-month exclusive period to conduct due diligence on the North Millennium joint venture project and, if the review is satisfactory, negotiate an earn-in option for up to a 51% interest.
Both companies secured shareholder approval for the reverse takeover-related steps on February 26, 2026.
At a special meeting, Green Canada shareholders approved the amalgamation agreement and the proposed amalgamation of Green Canada with a wholly owned subsidiary of MAACKK as part of the reverse takeover.
Likewise, at MAACKK’s annual general and special meeting, shareholders approved a series of changes that would take effect when the reverse takeover closes, including moving MAACKK’s corporate jurisdiction from Alberta to Ontario, consolidating all issued and outstanding common shares on a 6.25-to-1 basis, and changing the company’s name to Green Canada Uranium Corp.
Green Canada also announced the closing of additional tranches of its previously announced non-brokered private placement. In the latest closings, the company issued 1,762,730 common shares at $0.13 per share for gross proceeds of $229,154.90.
Including the latest tranches, Green Canada has now issued a total of 6,154,460 common shares under the private placement at $0.13 per share, raising aggregate gross proceeds of $800,079.80.
Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
