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PTX Metals Closes Transaction to Create Green Canada Uranium

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PTX Metals (PTX.V) said Tuesday that it completed its transaction with Green Canada Corporation and MAACKK Capital to create Green Canada Uranium Corp. (GCUC).

GCUC is set to begin trading on the TSX Venture Exchange under the symbol "GCUC" around Sept. 9, it added.

GCUC has also acquired 100% of the Marshall uranium project in Saskatchewan's Athabasca Basin, the company said, adding that it is encouraged by the project's exploration potential, with drilling expected to begin in September.

PTX also said it will review tax-efficient options for its GCUC shareholding, subject to regulatory and tax considerations.

The company said the deal "advances PTX's strategy of creating value from non-core assets while reducing associated costs and allowing the company to sharpen its focus on its core Ontario portfolio, including the W2 Copper-Nickel-PGE Project and South Timmins gold assets."

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