Canex Metals revises Gold Basin tender numbers

Executive Summary

• Canex Metals Inc. has corrected the number of Gold Basin Resources Corp. shares taken up under its takeover bid, reducing the total from 73,026,822 shares to 70,088,199 shares due to administrative deficiencies in processing tenders.
• The revised acceptance represents 51.86% of Gold Basin's issued and outstanding shares, down from the originally reported 54.04%.
• Canex issued 41,492,194 common shares to Gold Basin shareholders in exchange for the accepted shares and is working with shareholders who had deficient deposits to facilitate participation in a potential future subsequent acquisition transaction.

Key Details

• Revised Share Count: Canex took up a total of 70,088,199 Gold Basin shares.
• Percentage of Issued/Outstanding: The accepted shares represent 51.86% of Gold Basin's issued and outstanding shares (previously reported as 54.04%).
• Consideration Issued: Canex issued 41,492,194 common shares of Canex to the Gold Basin shareholders.
• Reason for Revision: The reduction was due to deficiencies in certain tenders caused by Gold Basin's failure to have a transfer agent in place at the time of the offer's expiry, which delayed the processing of estate transfers and the replacement of share certificates.
• Shareholder Assistance: Canex and Laurel Hill Advisory Group are assisting Gold Basin shareholders with deficient deposits to obtain replacement share certificates or proper estate transfer documentation to participate in a potential future subsequent acquisition transaction.
• Regulatory Filing: An amended early warning report reflecting this change will be filed on SEDAR+.
• Original Announcement Reference: The correction relates to the announcement dated Feb. 10, 2026, regarding the offer to purchase all Gold Basin shares.

Notable Quotes

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