TORONTO, April 6, 2026 /CNW/ - Gencan Capital Inc. ("Gencan" or the "Company") is pleased to provide an update in respect of its previously announced reverse takeover transaction (the "Transaction") with Ubercrete Advanced Materials Inc. ("Ubercrete").

Gencan has been advised that Ubercrete has initiated a non-brokered private placement financing (the "Concurrent Financing") of up to $5,000,000, at a price of $0.25 per share. The securities to be issued pursuant to the Concurrent Financing will be offering on a private placement basis pursuant to applicable exemptions from prospectus requirements under applicable securities law.

The Concurrent Financing is being undertaken in connection with the Transaction and is intended to provide working capital to advance Ubercrete's business plan, including continued product development, commercialization efforts, and general corporate purposes.

While the parties have agreed upon all material terms of the Transaction, completion of the Transaction remains subject to a number of conditions, including, but not limited to, the negotiation and execution of a definitive agreement, completion of satisfactory due diligence, receipt of all required shareholder, regulatory, and exchange approvals, and completion of the Concurrent Financing.

There can be no assurance that the Transaction or the Concurrent Financing will be completed as proposed or at all.

Further details on the Transaction can be found in the Company's press release dated March 17, 2026.

About Ubercrete

Ubercrete is a technology company focused on transforming traditional concrete through proprietary formulations and processes that deliver high-performance concrete solutions to commercial and residential projects. Ubercrete applies state-of-the-art volumetric mixing and novel additive technologies to bring innovative, high-performance solutions to the construction sector. Its unique, patentable technologies are developed through practical R&D and partnerships with world-renowned academic institutions, with a long-term strategy to license these innovations globally. For more information, please visit https://www.ubercrete.ca.

Neither the Canadian Securities Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

All information contained in this news release with respect to Ubercrete was supplied by Ubercrete for inclusion herein and the Company has relied on the accuracy of such information without independent verification.

As noted above, completion of the Transaction is subject to a number of conditions. Where applicable, the Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Transaction will be completed as proposed or at all. Investors are cautioned that, except as disclosed in the filing statement to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon.

This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities under the Financing in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Cautionary Note Regarding Forward Looking Information

This press release contains statements that constitute "forward-looking information" ("forward-looking information") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur to be achieved) are not statements of historical fact and may be forward-looking information.

More particularly and without limitation, this press release contains forward-looking statements concerning the Transaction and the Concurrent Financing. In disclosing the forward-looking information contained in this press release, the Company has made certain assumptions, including that: the Concurrent Financing will be launched and completed on acceptable terms; all applicable third party consents and regulatory approvals for the Transaction will be received; and that the Transaction will be completed on mutually acceptable terms and within a customary timeframe for transactions of this nature. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, it can give no assurance that the expectations of any forward-looking information will prove to be correct. Known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: availability of financing; delay or failure to receive third party consents or regulatory approvals; and general business, economic, competitive, political and social uncertainties. There can be no certainty that the Transaction will be completed on the terms set out in the definitive agreement or at all. Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking information or otherwise.

SOURCE Gencan Capital Inc.