CANEX Metals Secures $3 Million Financing, Extends Offer to Gold Basin Resources

CANEX Metals Inc. has announced a $3 million strategic financing, led by investment from Eric Fier, a prominent figure in the mining industry. This financing is key to supporting CANEX's bid to acquire Gold Basin Resources Corp. and is aimed at reducing financial risks associated with the offer, as well as demonstrating the company's capability to fund exploration and development of a gold district in Northern Arizona.

The financing will see CANEX issue up to 20 million common shares at $0.15 each. Eric Fier's involvement brings significant expertise and positions him as a major shareholder, increasing his ownership to over 9.9%. The offer to Gold Basin shareholders has been extended to January 9, 2026, allowing them more time to evaluate in light of the new backing.

This move offers Gold Basin shareholders a 97% premium over the last closing price before a cease-trade order. CANEX highlights this as the sole path to liquidity and value amid financial difficulties at Gold Basin. Shane Ebert, President of CANEX, emphasizes the strategic importance of Fier's endorsement and financial support.