Northwire Canada EditionThursday, September 17, 2026
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GOLD 4387.50 +1.3% SILVER 63.42 −0.7% COPPER 6.44 −0.0% OIL 102.43 −3.2% PALLADIUM 1285.50 −1.3% NIO 0.155 +3.3% REX 0.235 +0.0% PAAS 66.47 −1.4% WGF 0.190 +18.8% NAM 0.205 −2.4% EMO 0.360 +0.0% ATX 2.29 −1.7% WDO 33.24 −1.8% ETL 1.00 −1.0% LIF 25.64 +0.6% ZAC 0.055 −8.3% PML 1.57 +0.6% HHH 5.33 +1.8% AAZ 0.040 +14.3% GLO 0.710 +44.9% AUEN 0.240 −5.9% GOLD 4387.50 +1.3% SILVER 63.42 −0.7% COPPER 6.44 −0.0% OIL 102.43 −3.2% PALLADIUM 1285.50 −1.3% NIO 0.155 +3.3% REX 0.235 +0.0% PAAS 66.47 −1.4% WGF 0.190 +18.8% NAM 0.205 −2.4% EMO 0.360 +0.0% ATX 2.29 −1.7% WDO 33.24 −1.8% ETL 1.00 −1.0% LIF 25.64 +0.6% ZAC 0.055 −8.3% PML 1.57 +0.6% HHH 5.33 +1.8% AAZ 0.040 +14.3% GLO 0.710 +44.9% AUEN 0.240 −5.9%
Financings Routine +

CANEX Metals Announces C$6.5 Million Strategic Financing Led By C$3 Million Investment by Eric Fier

Canex raises C$6.5m to fund aggressive drilling at its consolidated Arizona gold district.

By The Northwire Desk — AI Analysis Sep 08, 2026 · 06:00 CANX · 0.4 Canex Metals Inc.
Executive Summary

Canex Metals Inc. (CANX) announced a C$6.5 million non-brokered private placement immediately following its 100% acquisition of Gold Basin Resources Corp. The financing is structured in two tranches: up to 14,285,714 common shares at $0.35 per share for $5.0 million, and up to 2,777,778 Charity Flow-Through shares at $0.54 per share for $1.5 million.

Mr. N. Eric Fier leads the financing with a C$3.0 million investment, maintaining his position as the largest shareholder at approximately 9.6% post-financing. Proceeds will be allocated to aggressive exploration and drilling at the Gold Basin/Gold Range Project in Arizona, drill testing of new geophysical targets at the Louise Copper-Gold Porphyry Project in British Columbia (tentatively Q4 2026), remaining acquisition obligations, and general working capital.

The transaction relies on NI 61-101 exemptions and is subject to TSX Venture Exchange and regulatory approval. Securities carry a four-month-plus-one-day hold period.

Material Impact

Canex Metals Inc. (CANX) announced a financing that serves as a logical follow-up to its completed hostile takeover of Gold Basin Resources, which closed in August 2026. The capital provides necessary operational runway to advance the newly consolidated Arizona district and test the Louise porphyry targets.

The pricing of $0.35 per common share and $0.54 per flow-through share aligns with recent trading levels, indicating a fair market valuation without significant discounting. Eric Fier participated in the financing, marking a repeat investment as he previously invested $3.0 million in December 2025.

CANX · Price
Company Overview

Canex Metals Inc. (CANX) is a pre-revenue mineral exploration company advancing gold and copper-gold projects in North America. Its flagship asset is the Gold Basin/Gold Range Project in Northern Arizona, a consolidated district featuring mineralized trends exceeding 8 kilometers, multiple known zones, and over 950 historic and current drill holes. Portions of the property were previously permitted for an open-pit heap leach operation in the late 1980s.

The company also holds the Louise Copper-Gold Porphyry Project in British Columbia, which contains a large historic resource and new geophysical targets identified via a 2025 IP survey. Management is led by Dr. Shane Ebert, P.Geo., with a focus on district-scale consolidation and advanced exploration.

Read the original news release →

More from Canex Metals Inc.

Aug 18, 2026 · 07:30

Canex’s hostile bid for Gold Basin closes as permits accumulate, though drill funding remains unconfirmed.

Drill Results Jul 22, 2026 · 07:30

Canex finalizes Gold Basin consolidation and targets Arizona drilling and British Columbia porphyry permits.

Production / Operations Jun 17, 2026 · 07:30

Canex advances its Arizona gold district consolidation, targeting fall drilling as permitting for the project nears completion.

Drill Results Jun 10, 2026 · 20:03

Canex completes its merger with Gold Basin, consolidating the Arizona oxide gold district while facing pre-revenue cash burn.

M&A / Property Jun 05, 2026 · 07:29

CANEX Announces Gold Basin Resources Shareholders Approve Merger Arrangement With CANEX With 75.82% Support

M&A / Property May 12, 2026 · 07:30

CANEX’s definitive arrangement to swallow Gold Basin whole ends a bitter 12-month takeover saga, consolidating a promising Arizona oxide gold district but leaves integration risks and a drained treasury.

M&A / Property