10:43 AM EDT, 06/09/2025 (MT Newswires) -- Cascadia Minerals ( CAMNF ) on Monday was down 12% at last look after it agreed to buy 100% of the issued and outstanding shares of Granite Creek (GCX.V), at last look unchanged, for consideration payable in shares of Cascadia.

A statement noted the consideration will consist of 0.25 common shares in the capital of Cascadia for each one Granite Creek common share held. Shares of Cascadia to be received by Granite Creek holders represent a value of $0.04 per Granite Creek share held based on its closing price ending June 6.

It also noted the Cascadia shares provide Granite Creek holders with a premium of 48% based on Granite Creek's 5-day volume-weighted average trading price of $0.027 as of June 6, 2025 , the last trading day prior to announcement of the agreement.

Upon completion of the transaction, existing Cascadia and Granite Creek shareholders will own near 59% and 41% of the issued and outstanding shares of the combined company, respectively.

The deal will combine Granite Creek's advanced Carmacks Project with Cascadia's portfolio of copper-gold exploration projects across Yukon's Stikine Terrane.

Upon completion, Cascadia will have a total cash balance of about $2.5 million, which will be used to fund ongoing work on the combined property portfolio. The company is also undertaking a concurrent non-brokered private placement equity financing of up to $2.25 million supported by strategic investor Michael Gentile.

Cascadia will provide a non-interest-bearing $375,000 bridge loan to Granite Creek to cover certain transaction costs, subject to TSX-V approval. Upon closing of the deal, which is expected on or about July, Granite Creek Chief Executive Timothy Johnston, is expected to join the board of Cascadia.

Graham Downs, President and CEO of Cascadia, said: "This transaction is a great opportunity for both Cascadia and Granite Creek shareholders. The Carmacks Project provides a strong foundation of road-accessible resources in a safe jurisdiction. Our team is confident in the exploration potential around the main deposits and throughout the property. We look forward to building on the systematic work Granite Creek has conducted in recent years by growing near-deposit resources and exploring along trend toward the nearby Minto deposit to the north. Planning is already underway for a fall drill program at Carmacks, while work advances in parallel at our Catch Property and other discovery-stage Yukon Stikine projects. The Cascadia team has a demonstrated track record of advancing district-scale projects and making meaningful discoveries, and we look forward to bringing this experience to the Carmacks Project as well."

Tim Johnston, President and CEO of Granite Creek, in the same statement said: "With Cascadia's board and management's long history of discovery and development of mineral projects in the Yukon, I have confidence that they are the right team to advance the Carmacks Project and create long term shareholder value. This merger is a logical next step for both companies and will result in a combined entity with a robust portfolio of projects that will be positioned for success in these strong copper and gold markets. I look forward to remaining involved with Cascadia and moving the Carmacks Project forward towards development."

Shares of Cascadia were last seen down $0.02 at $0.14 on the TSXV.

Price: 0.14, Change: -0.02, Percent Change: -12.50