PERTH, Australia, Aug. 31, 2026 /CNW/ -- Basin Energy Ltd. (BSN.AX) ("Basin") -- On June 22, 2026 Basin entered into an Amended and Restated Mineral Rights Purchase and Sale Agreement with its wholly owned subsidiary, Basin Energy Marshall Corp. ("Basin Marshall") and Green Canada Corporation pursuant to which Green Canada Corporation, or its resultant affiliate created through a business combination, would acquire a 100% interest in mineral properties known as the Marshall uranium project (the "Marshall Project") located in the Athabasca Basin of Saskatchewan (the "Transaction").
A business combination was effected between Green Canada Corporation, 1001520122 Ontario Inc. and Green Canada Uranium Corp. ("GCUC", formerly known as MAACKK Capital Corp.), subsequent to which GCUC acquired the Marshall Project and completed the Transaction on August 31, 2026. In consideration of GCUC acquiring the Marshall Project, Basin was issued 6,964,301 common shares in the capital of GCUC (the "Marshall Shares").
Concurrently with the closing of the Marshall Mineral Rights Acquisition, the exclusivity agreement entered into among Green Canada, CanAlaska and Basin Energy on February 25, 2026 (the "NMX Exclusivity Agreement") has become effective. In consideration for the NMX Exclusivity Right, GCUC issued 400,000 common shares to Basin (the "NMX Shares").
Prior to the completion of the Transaction and the NMX Exclusivity Agreement becoming effective, Basin beneficially owned and controlled nil common shares of GCUC. Upon issuance of the Marshall Shares and the NMX Shares, Basin owns and controls 7,364,301 common shares of GCUC.
This disclosure is being made pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issuers in connection with the filing of an early warning report regarding Basin's acquisition of securities of GCUC. A copy of Basin's early warning report will be available on GCUC's profile on SEDAR+ at www.sedarplus.ca.
About Basin Energy Inc.
Basin Energy (ASX: BSN) is a uranium exploration and development company with an interest in three highly prospective projects positioned in the southeast corner and margins of the world-renowned Athabasca Basin in Canada.
Forward Looking Statements
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur are forward-looking statements. Forward-looking statements are subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those reflected in the forward-looking statements.
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SOURCE Basin Energy Ltd.
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