on CANEX Metals Inc. (CVE:CANX)
Supreme Court Orders Gold Basin Meeting Amidst Business Restrictions
On February 11, 2026, the Supreme Court of British Columbia mandated an annual general meeting of Gold Basin Resources shareholders to take place on March 16, 2026. This decision restricts Gold Basin from conducting business without court approval until the meeting's conclusion. CANEX Metals Inc. will coordinate the proceedings, with Steven McKoen, K.C., serving as independent chair.
The court's order compels Gold Basin to address inaccuracies in its securities records, linked to a takeover bid by CANEX Metals. Despite Gold Basin announcing a May 2026 meeting and seeking third-party proposals, the court-intervened date supersedes this, emphasizing that the board's actions contradicted a prior restraining order.
Justice Walker highlighted concerns about Gold Basin's board operations, underscoring their breach of statutory obligations. CANEX has cautioned the board of potential contempt orders for any further violations.
R. E.
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