CANEX Metals Completes Key Steps in Gold Basin Acquisition

CANEX Metals Inc. has met the statutory minimum tender requirement for its offer to acquire Gold Basin Resources Corporation. The British Columbia Securities Commission extended the partial revocation order on the cease-trade imposed on Gold Basin. With all remaining conditions waived, CANEX will proceed to take up shares, making it the controlling shareholder of Gold Basin.

A mandatory 10-day extension has been announced to February 10, 2026, allowing remaining Gold Basin shareholders more time to participate. Following this, CANEX plans no further extensions. The acquisition aims to resolve regulatory deficiencies and unlock the district's potential.

CANEX's offer equates to $0.172 per Gold Basin share, representing a significant implied premium. Efforts will focus on achieving board control and financial cleanup.