Gold Basin to hold AGM on May 12

Executive Summary

• Gold Basin Resources Corp. has scheduled its Annual General Meeting (AGM) for May 12, 2026, to address shareholder matters following the expiry of a hostile takeover bid.
• The AGM is being held in response to a request from Canex Metals Inc. after the final, non-extendable expiry of its hostile takeover bid on February 10, 2026.
• The company has initiated a rigorous review of shares purportedly tendered to the hostile bid, citing serious concerns regarding the validity of certain tenders and compliance with securities legislation.

Key Details

• AGM Details: The meeting is fixed for May 12, 2026. The record date for voting will be announced later.
• Purpose of Meeting: The date allows time for the completion of audited annual financial statements for the fiscal year ended December 31, 2024, preparation of the management information circular, and compliance with notice and mailing requirements.
• Hostile Bid Context: Canex Metals Inc.'s hostile takeover bid expired on February 10, 2026, at 5 p.m. Toronto time.
• Tender Review: Gold Basin, with legal advisers, is reviewing common shares tendered to the hostile bid. The company has "serious concerns regarding the validity of certain tenders," specifically questioning if applicable securities legislation requirements were satisfied.
• Board Stance: The board reserves all rights regarding the tender validity issue and intends to provide further updates as the review progresses.
• Shareholder Guidance: Shareholders are encouraged not to take any action with respect to their shares pending the completion of the review and the distribution of the management information circular.
• Open to Proposals: The board remains open to considering any bona fide proposals that maximize shareholder value, encouraging interested parties to submit formal proposals.

Notable Quotes

• "The company, together with its legal advisers, has commenced a rigorous review of the common shares purportedly tendered to the hostile bid and has serious concerns regarding the validity of certain tenders, including whether applicable requirements under securities legislation were satisfied."
• "The board remains committed to acting in the best interests of the company and all of its shareholders... remains open to considering any bona fide proposals that, in the judgment of the board after consultation with its financial and legal advisers, are in the best interests of the company and its shareholders."