on CANEX Metals Inc. (CVE:CANX)
CANEX Moves Forward with Gold Basin Acquisition After BCSC Revocation
CANEX Metals Inc. has announced that the British Columbia Securities Commission has partially revoked a cease trade order against Gold Basin Resources Corporation. This allows CANEX to proceed with a takeover bid for all outstanding shares of Gold Basin. The company plans to commence this bid soon, subject to a list of Gold Basin's security holders.
The revocation order expires on January 31, 2026, unless more than 50% of Gold Basin's shares are acquired by then, extending the deadline to April 30, 2026. This strategic move aims to support CANEX's objective of acquiring 100% of Gold Basin's shares.
In addition, CANEX has secured conditional approval from the TSX Venture Exchange for acquiring mining claims related to the Louise Copper-Gold Porphyry Project, enhancing its asset portfolio.
R. E.
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