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Following the offering upsizing, the Company has closed the second tranche of the Private Placement. In connection with this closing, the Company issued an aggregate of 2,022,500 Common Shares at a price of $0.13 per share, for aggregate gross proceeds of $262,925.
After giving effect to the closing of the Second Tranche, the shareholding of PTX Metals Inc. (TSXV: PTX) (“PTX”) in the Company was reduced from approximately 50.73% to approximately 48.02%, the Company ceased to be a subsidiary of PTX, and Green Canada Corporation will henceforth issue its own press releases independently of PTX.
The Common Shares issued pursuant to the closing of the Second Tranche are subject to a statutory hold period of four months and one day after the later of (a) February 4, 2026, and (b) the date the Company became a reporting issuer in any province or territory. The net proceeds of the Private Placement are expected to be used for general working capital and corporate purposes.
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