On June 9, 2025, Cascadia Minerals Ltd. announced a definitive agreement to acquire 100% of Granite Creek Copper Ltd. in an all-share transaction. Granite Creek shareholders would receive 0.25 Cascadia shares per Granite Creek share, equivalent to $0.04 per share based on Cascadia’s June 6, 2025 closing price, representing a 48% premium over Granite Creek’s 5-day VWAP of $0.027. The deal, structured as a plan of arrangement under the British Columbia Business Corporations Act, was subject to securityholder, regulatory, and court approvals. Stikeman Elliott LLP acted for Cascadia, Sangra Moller LLP for Granite Creek, and Evans & Evans Inc. provided a fairness opinion to Granite Creek’s board.

Closing occurred on August 13, 2025, with Cascadia issuing 53,070,848 shares to former Granite Creek shareholders, along with 3,747,500 replacement stock options and adjusted warrants for 11,036,291 shares. Upon completion, Cascadia shareholders owned about 59% and Granite Creek shareholders 41% of the combined company.

The merger consolidates Yukon copper-gold assets, including Granite Creek’s Carmacks Project, with a measured and indicated resource of 651 million pounds of copper and 302,000 ounces of gold, and a post-tax NPV (5%) of $230.5 million and 29% IRR per a 2023 PEA. Cascadia is planning a fully funded fall drill program at Carmacks and prospecting at additional Yukon properties.