on CANEX Metals Inc. (CVE:CANX)
CANEX Metals Challenges Gold Basin Resources' Property Transfer
CANEX Metals Inc. has issued a response to Gold Basin Resources Corporation's recent move to secure its Gold Basin Project in Arizona to a related party. Despite this defensive tactic, CANEX remains committed to acquiring Gold Basin, affirming the bid's potential to benefit both sets of shareholders.
Gold Basin's announcement about an unsecured loan from Charrua Capital LLC, owned by former Gold Basin CEO, Michael Povey, has raised concerns. The loan now involves property security, with no clear repayment plan, depicting an effort to transfer assets to a related party.
CANEX urges Gold Basin's shareholders to support their offer, promising a superior value of $22,000,000, a significant improvement over current management's transactions. CANEX remains determined to complete the acquisition, promising a new leadership team and pursuing further developments.
R. E.
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