On June 9, 2025, Cascadia Minerals Ltd. signed a definitive agreement to acquire 100% of the issued and outstanding shares of Granite Creek Copper Ltd. through an all-share transaction. Granite Creek shareholders will receive 0.25 Cascadia common shares per Granite Creek share, equating to $0.04 per share based on Cascadia’s closing price on June 6, 2025. The transaction represents a 48% premium over Granite Creek’s 5-day volume-weighted average price of $0.027. The transaction implies a share-based valuation; no cash value was assigned. Stikeman Elliott LLP is legal counsel to Cascadia, while Sangra Moller LLP represents Granite Creek. Evans & Evans Inc. provided a fairness opinion to Granite Creek’s board.

The transaction will be effected via a plan of arrangement under the British Columbia Business Corporations Act, subject to securityholder, regulatory, and court approvals, with closing anticipated in July 2025. Upon completion, Cascadia shareholders will own approximately 59% and Granite Creek shareholders 41% of the combined entity. The combined company will consolidate exploration and development assets in Yukon, notably Granite Creek’s Carmacks Project, which has a measured and indicated resource of 651 million pounds of copper and 302,000 ounces of gold, with a post-tax NPV (5%) of $230.5 million and 29% IRR based on a 2023 PEA.

Cascadia will concurrently raise up to C$2.25 million via a non-brokered private placement and has extended a $375,000 bridge loan to Granite Creek. Granite Creek also plans to settle up to $521,000 of debt via share issuance, subject to TSX Venture Exchange approval.