CANEX Metals Acquires Majority Share in Gold Basin

CANEX Metals Inc. has secured 51.93% ownership of Gold Basin Resources, becoming its largest controlling shareholder. This comes after a successful offer to acquire all outstanding common shares. A court order from the Supreme Court of British Columbia reinstates Gold Basin's Transfer Agent and prohibits its directors from incurring further debt or affecting assets negatively.

CANEX is pushing for a court-ordered annual general meeting (AGM) of Gold Basin shareholders, with proceedings set for February 11, 2026. The intention is to nominate a new slate of experienced directors to oversee the company's assets and remedies for existing delinquencies. CANEX's offer, nearing expiration, values Gold Basin at approximately $22.4 million and represents a final opportunity for shareholders seeking liquidity.

CANEX plans to integrate Gold Basin into its operations, aiming for enhanced efficiencies. The company expresses gratitude to Gold Basin shareholders for their support and looks forward to advancing their collective interests.