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

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.