Granite Creek Obtains Securityholder Approval for Arrangement
Granite Creek Copper (TSXV: GCX) has secured securityholder approval for its previously announced arrangement with Cascadia Minerals, with approximately 92% of securityholders voting in favor. Under the arrangement, Cascadia will acquire all issued and outstanding Granite Creek shares, with the transaction expected to close around August 13, 2025.
The company also disclosed details of a $375,000 non-interest bearing bridge loan from Cascadia, structured in two tranches: $125,000 dated June 18 and $250,000 dated June 27, 2025. Additionally, Granite Creek completed a shares for debt transaction, issuing 13,265,705 shares at $0.04 per share to settle approximately $521,000 of debt with TruePoint Exploration and a Carmacks North royalty holder.
Granite Creek Copper (TSXV: GCX) ha ottenuto l'approvazione degli azionisti per l'accordo precedentemente annunciato con Cascadia Minerals, con circa il 92% degli azionisti che ha votato a favore. In base all'accordo, Cascadia acquisir脿 tutte le azioni emesse e in circolazione di Granite Creek, con la transazione prevista per la chiusura intorno al 13 agosto 2025.
La societ脿 ha inoltre comunicato i dettagli di un prestito ponte senza interessi di 375.000 dollari da parte di Cascadia, strutturato in due tranche: 125.000 dollari con data 18 giugno e 250.000 dollari con data 27 giugno 2025. Inoltre, Granite Creek ha completato una transazione di azioni per debito, emettendo 13.265.705 azioni a 0,04 dollari per azione per estinguere circa 521.000 dollari di debito con TruePoint Exploration e un detentore di royalty di Carmacks North.
Granite Creek Copper (TSXV: GCX) ha obtenido la aprobaci贸n de los accionistas para su acuerdo previamente anunciado con Cascadia Minerals, con aproximadamente el 92% de los accionistas votando a favor. Seg煤n el acuerdo, Cascadia adquirir谩 todas las acciones emitidas y en circulaci贸n de Granite Creek, y se espera que la transacci贸n se cierre alrededor del 13 de agosto de 2025.
La compa帽铆a tambi茅n revel贸 los detalles de un pr茅stamo puente sin intereses de 375,000 d贸lares de Cascadia, estructurado en dos tramos: 125,000 d贸lares con fecha 18 de junio y 250,000 d贸lares con fecha 27 de junio de 2025. Adem谩s, Granite Creek complet贸 una transacci贸n de acciones por deuda, emitiendo 13,265,705 acciones a 0.04 d贸lares por acci贸n para saldar aproximadamente 521,000 d贸lares de deuda con TruePoint Exploration y un titular de regal铆as de Carmacks North.
Granite Creek Copper (TSXV: GCX)電� 鞚挫爠鞐� 氚滍憸頃� Cascadia Minerals鞕�鞚� 頃╇硲鞎堨棎 雽�頃� 鞎� 92%鞚� 欤检＜霌れ澊 彀劚響滊ゼ 雿橃牳 欤检＜ 鞀轨澑鞚� 氚涭晿鞀惦媹雼�. 鞚� 頃╇硲鞎堨棎 霐半澕 Cascadia電� Granite Creek鞚� 氚滍枆 氚� 鞙犿喌 欷戩澑 氇摖 欤检嫕鞚� 鞚胳垬頃� 鞓堨爼鞚措┌, 瓯半灅電� 2025雲� 8鞗� 13鞚缄步 鞕勲霅� 瓴冹溂搿� 鞓堨儊霅╇媹雼�.
須岇偓電� 霕愴暅 Cascadia搿滊秬韯� 氚涭潃 鞚挫瀽 鞐嗠姅 375,000雼煬鞚� 敫岆Μ歆� 搿� 靹鸽秬靷暛鞚� 瓿店皽頄堨溂氅�, 鞚措姅 2025雲� 6鞗� 18鞚检瀽 125,000雼煬鞕� 6鞗� 27鞚检瀽 250,000雼煬 霊� 彀搿� 雮橂墭鞏� 甑“頇旊悩鞐堨姷雼堧嫟. 於旉皜搿� Granite Creek鞚� 攵�毂� 靸來櫂鞚� 鞙勴暣 13,265,705欤�毳� 欤茧嫻 0.04雼煬鞐� 氚滍枆頃橃棳 TruePoint Exploration瓿� Carmacks North 搿滌棿韹� 氤挫湢鞛愳棎瓴� 鞎� 521,000雼煬鞚� 攵�毂勲ゼ 鞝曤Μ頄堨姷雼堧嫟.
Granite Creek Copper (TSXV : GCX) a obtenu l'approbation des d茅tenteurs de titres pour son arrangement pr茅c茅demment annonc茅 avec Cascadia Minerals, avec environ 92 % des d茅tenteurs ayant vot茅 en faveur. Dans le cadre de cet arrangement, Cascadia acquerra toutes les actions 茅mises et en circulation de Granite Creek, la transaction devant se cl么turer aux alentours du 13 ao没t 2025.
La soci茅t茅 a 茅galement d茅voil茅 les d茅tails d'un pr锚t relais sans int茅r锚t de 375 000 $ accord茅 par Cascadia, structur茅 en deux tranches : 125 000 $ dat茅s du 18 juin et 250 000 $ dat茅s du 27 juin 2025. De plus, Granite Creek a finalis茅 une transaction d'actions contre dette, 茅mettant 13 265 705 actions 脿 0,04 $ par action pour r茅gler environ 521 000 $ de dettes aupr猫s de TruePoint Exploration et d'un d茅tenteur de redevances Carmacks North.
Granite Creek Copper (TSXV: GCX) hat die Zustimmung der Wertpapierinhaber f眉r die zuvor angek眉ndigte Vereinbarung mit Cascadia Minerals erhalten, wobei etwa 92 % der Wertpapierinhaber daf眉r gestimmt haben. Im Rahmen der Vereinbarung wird Cascadia alle ausgegebenen und ausstehenden Granite Creek-Aktien 眉bernehmen, wobei der Abschluss der Transaktion f眉r den 13. August 2025 erwartet wird.
Das Unternehmen gab au脽erdem Details zu einem zinslosen 脺berbr眉ckungskredit in H枚he von 375.000 US-Dollar von Cascadia bekannt, der in zwei Tranchen strukturiert ist: 125.000 US-Dollar mit Datum 18. Juni und 250.000 US-Dollar mit Datum 27. Juni 2025. Zus盲tzlich hat Granite Creek eine Aktien-gegen-Schulden-Transaktion abgeschlossen, bei der 13.265.705 Aktien zu 0,04 US-Dollar pro Aktie ausgegeben wurden, um etwa 521.000 US-Dollar Schulden bei TruePoint Exploration und einem Carmacks North-Royalty-Inhaber zu begleichen.
- Secured 92% securityholder approval for the arrangement with Cascadia Minerals
- Obtained $375,000 bridge loan from Cascadia to finance transaction expenses
- Successfully settled $521,000 of debt through shares issuance
- Significant debt obligations requiring settlement through share issuance
- Dilution of existing shareholders through shares for debt transaction
- Company required bridge loan financing to cover transaction expenses
Vancouver, British Columbia--(Newsfile Corp. - August 5, 2025) - Granite Creek Copper Ltd. (TSXV: GCX) ("Granite Creek") is pleased to announce securityholder approval of its previously announced plan of arrangement (the "Arrangement"), pursuant to which, among other things, Cascadia Minerals Ltd. ("Cascadia") will acquire all of the issued and outstanding common shares of Granite Creek (the "Granite Creek Shares"), following a vote at the special meeting of Granite Creek's securityholders held on August 5, 2025. At the meeting, Granite Creek securityholders voted approximately
The Arrangement remains subject to obtaining a final order from the Supreme Court of British Columbia approving the Arrangement, and the satisfaction of certain customary closing conditions. It is currently expected that the transaction will close on or about August 13, 2025.
In accordance with the policies of the TSX Venture Exchange, Granite Creek also provides the following disclosure with respect to its previously announced non-interest bearing bridge loan (the "Bridge Loan") from Cascadia. Cascadia provided Granite Creek with the Bridge Loan in the principal amount of
Shares for debt transaction.
In accordance with the policies of the TSX Venture Exchange, Granite Creek also provides the following disclosure with respect to its previously announced settlement of an aggregate of approximately
TruePoint is a privately held exploration service company that provides exploration and administrative services to Granite Creek. Granite Creek's indebtedness to TruePoint relates primarily to certain long-term loans (the "TruePoint Loans"), and also includes certain current accounts payable owing to TruePoint for past services rendered. The TruePoint Loans in the amounts of
Following the Shares for Debt Transaction, TruePoint holds 11,515,705 Granite Creek shares, representing approximately
About Granite Creek
Granite Creek is a growth stage exploration company, focused on the acquisition and development of exploration properties that host, or have the potential to host, precious base or battery metals. GCX's flagship asset is the Carmacks Project in the high-grade Minto copper district in Yukon Territory, Canada. The project is located south and within 35km of the formerly producing Minto mine.
For further information, please contact:
Timothy Johnson, President & CEO
Telephone: 1 (604) 235-1982
Toll Free: 1 (888) 361-3494
E-mail: [email protected]
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
Cautionary note regarding forward-looking statements:
This press release may contain "forward-looking information" within the meaning of applicable securities laws. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this press release. Cascadia and Granite Creek undertake no obligation to update forward-looking information, except as required by securities laws.
To view the source version of this press release, please visit
FAQ
What percentage of Granite Creek securityholders approved the Cascadia Minerals arrangement?
When is the Granite Creek and Cascadia Minerals arrangement expected to close?
What is the size and structure of the bridge loan from Cascadia to Granite Creek?
How many shares did Granite Creek issue in the shares for debt transaction?
What is TruePoint's ownership percentage in Granite Creek after the shares for debt transaction?
