CANEX Metals Announces the Numbers of Gold Basin Shares Taken up by Canex Metals

Executive Summary

• CANEX Metals corrects the number of Gold Basin Shares deposited under its offer, reducing the count from 73,026,822 (54.04%) to 70,088,199 (51.86%).
• The correction stems from deficiencies in tender processing by Gold Basin’s transfer agent and a court‑ordered re‑engagement of that agent.
• CANEX issued 41,492,194 common shares to the Gold Basin shareholders based on the revised share count and continues to assist shareholders with deficient deposits for participation in a potential subsequent acquisition transaction.

Key Details

• Original Announcement (Feb 10 2026): 73,026,822 Gold Basin Shares (54.04% of issued/outstanding) were reported as validly deposited.
• Revised Figure: 70,088,199 Gold Basin Shares (51.86% of issued/outstanding) are now confirmed as validly deposited.
• Shares Issued by CANEX: 41,492,194 common shares allocated to Gold Basin shareholders based on the revised deposit count.
• Reason for Revision:
• Deficiencies in certain tenders identified by Gold Basin’s transfer agent.
• Delay caused by Gold Basin lacking a transfer agent at offer expiry.
• Court order obtained by CANEX to re‑engage Gold Basin’s transfer agent.
• Impact on Future Transaction: The corrected share count affects the calculation of ownership percentages for the contemplated Subsequent Acquisition Transaction (as defined in CANEX’s August 28 2025 takeover bid circular).
• Assistance to Affected Shareholders: CANEX and Laurel Hill Advisory Group are working with shareholders who made deficient deposits to obtain replacement certificates or proper estate transfer documentation, enabling their participation in any future acquisition.
• Regulatory Filing: An amended early‑warning report reflecting the corrected share numbers will be filed on SEDAR+.

Notable Quotes

• “Shane Ebert, President/Director” – No direct quote provided; signature indicates responsibility for technical disclosure.