CANEX Metals Finalizes Acquisition of Gold Basin Shares

CANEX Metals Inc. has concluded its offer to acquire Gold Basin Resources Corporation shares. A total of 73,026,822 shares, comprising 54.04% of the total outstanding shares, were successfully tendered under the offer. The acquisition marks a significant step towards the privatization of Gold Basin by CANEX.

Shareholders who participated during the mandatory 10-day extension will receive their CANEX shares promptly. CANEX plans to hold a special meeting with Gold Basin's shareholders to seek approval for acquiring the remaining shares. Following this transaction, CANEX intends to delist Gold Basin from the TSX Venture Exchange and stop it from being a reporting issuer under Canadian securities laws.

This strategic move aligns with CANEX's goal to strengthen its portfolio and market presence, focusing on its Gold Range Project in Arizona and the Louise Copper-Gold Project in British Columbia.