Northwire Canada EditionSaturday, July 25, 2026
Northwire
B 0.150 +0.0% IFOS 2.28 −2.6% IMM 0.060 +0.0% ROCK 3.38 −1.7% NVX 0.250 −7.4% HAR 0.050 +0.0% YGT 0.175 +0.0% GEN 0.070 −nan% CRB 0.040 +14.3% MSA 7.07 +2.2% AEM 204.81 +0.7% OPW 0.105 +5.0% GRL 0.275 −1.8% AIS 0.150 +0.0% CUU 0.580 −1.7% SOMA 0.720 +5.9% B 0.150 +0.0% IFOS 2.28 −2.6% IMM 0.060 +0.0% ROCK 3.38 −1.7% NVX 0.250 −7.4% HAR 0.050 +0.0% YGT 0.175 +0.0% GEN 0.070 −nan% CRB 0.040 +14.3% MSA 7.07 +2.2% AEM 204.81 +0.7% OPW 0.105 +5.0% GRL 0.275 −1.8% AIS 0.150 +0.0% CUU 0.580 −1.7% SOMA 0.720 +5.9%
M&A / Property Game Changer

CANEX Metals Announces Final Take Up of Gold Basin Shares and Expiry of Successful Gold Basin Offer

CANX · Price

Executive Summary

  • CANEX Metals announced that the mandatory extension period for its offer to acquire all Gold Basin Resources Corp. shares has expired, with 73,026,822 shares (54.04% of outstanding) deposited under the offer.
  • The company has begun the take‑up process and will promptly pay shareholders who tendered during the extension period.
  • CANEX plans to call a special meeting of Gold Basin shareholders to seek approval for a subsequent acquisition transaction that would complete the privatization of Gold Basin, followed by delisting from the TSX Venture Exchange.

Key Details

  • Offer Status: Mandatory 10‑day extension expired at 5:00 p.m. Toronto time on February 10, 2026.
  • Shares Deposited: 73,026,822 common shares of Gold Basin (54.04% of issued and outstanding).
  • Current Holdings: CANEX already holds 69,517,629 Gold Basin shares; after final take‑up it will hold the full 73,026,822 shares deposited.
  • Take‑Up Process: Initiated; tendering shareholders will receive payment in CANEX shares promptly.
  • Next Steps – Special Meeting:
  • To be called shortly after Gold Basin’s annual general meeting and election of a new board.
  • Purpose: obtain shareholder approval for a subsequent acquisition transaction to acquire the remaining Gold Basin shares not obtained through the offer, thereby completing privatization.
  • Post‑Acquisition Plan:
  • Apply to the TSX Venture Exchange to delist Gold Basin shares.
  • If permitted, cause Gold Basin to cease being a reporting issuer under Canadian securities laws.
  • Advisors: Legal – Borden Ladner Gervais LLP; Information agent – Laurel Hill Advisory Group.
  • Early Warning Disclosure: A copy of CANEX’s early‑warning report for the final take‑up is available from Laurel Hill Advisory Group (phone: 1‑877‑452‑7184 / 1‑416‑304‑0211; email: [email protected]).

Notable Quotes

  • “Shane Ebert, President/Director” – signatory confirming technical disclosure compliance.
Read the original news release →

More from Canex Metals Inc.