Baselode Energy Completes Acquisition of Forum Energy Metals

Executive Summary

• Baselode Energy Corp. completed its plan of arrangement with Forum Energy Metals, acquiring 100 % of Forum’s issued and outstanding common shares in exchange for 0.3535 Baselode shares per Forum share.
• The transaction results in Baselode having approximately 291.6 million shares outstanding, cash of > $12 M, and a re‑branding to Geiger Energy Corp., pending shareholder approval at the September 16, 2025 meeting.
• The arrangement also includes separation agreements with former Forum executives (Richard Mazur and Dan O’Brien) and triggers an early‑warning filing under NI 62‑103.

Key Details

• Transaction Structure: Baselode issued 0.3535 of its common shares for each Forum share; existing Forum stock options and warrants were converted on the same ratio.
• Share Exchange Ratio: 1 Forum Share → 0.3535 Baselode Shares.
• Post‑Arrangement Share Count: 291,627,336 Baselode Shares issued and outstanding.
• Cash Position: Over $12 million in cash after a recent $6 M financing.
• Separation Agreements:
• Richard Mazur – cash $127,500 + 3,348,000 Baselode Shares (based on $0.085 share price).
• Dan O’Brien – cash $60,000 + 1,575,529 Baselode Shares.
• Board Re‑constitution: New five‑member board (Stewart, Sykes, Beaudry, Hunter, Dennison); shareholder meeting will seek to expand board to six members and appoint Michael Mansfield and Janet Meiklejohn.
• Name Change Proposal: At the September 16, 2025 AGM, shareholders will vote to rename Baselode Energy Corp. to Geiger Energy Corporation, with Rebecca Hunter as CEO and Stephen Stewart as Chairman.
• Delisting & Reporting: Forum Shares expected to be delisted from TSX‑V on or about August 29 2025; Baselode will apply for Forum to cease reporting obligations.
• Early Warning Report: Required filing under NI 62‑103 to be posted on Forum’s SEDAR+ profile.
• Strategic Focus: Geiger Energy will concentrate on the 100 % owned Aberdeen (Nunavut) and Hook (Saskatchewan) uranium projects, leveraging a larger cash base and expanded leadership team.

Notable Quotes

“With the completion of the plan of arrangement, I am excited to be stepping into the role of CEO of Baselode, which is well capitalized with over $12 million in cash… shareholders can expect an update on our progress in the near term.” – Rebecca Hunter, CEO

“I would like to welcome Rebecca as Baselode's new CEO… With the closing of the recent $6M financing, Baselode is well capitalized to execute on its exploration plans at Aberdeen and Hook…” – Stephen Stewart, Chairman