Canex gains 26% support for Gold Basin takeover bid

Executive Summary

• Over 26 % of Gold Basin Resources Corp. shares are already committed to Canex Metals’ acquisition offer under binding lock‑up agreements, nearly double the commitment level at the announcement.
• The offer represents a premium of more than 100 % to Gold Basin shareholders based on Canex’s September 24 2025 closing price.
• Canex urges remaining shareholders to tender their shares and calls on Gold Basin’s board to provide the required directors’ circular recommendation.

Key Details

• Commitment Level: >26 % of Gold Basin’s outstanding shares pledged under lock‑up agreements within 28 days of the start of the 105‑day bid period.
• Premium: Offer premium exceeds 100 % versus Gold Basin’s pre‑cease‑trade closing price (based on Canex share price of Sept 24, 2025).
• Bid Period: 105 days total; current update issued at day 28.
• Call to Action: Shareholders may tender shares by entering lock‑up agreements or tendering directly through Laurel Hill Advisory Group (phone: 1‑877‑452‑7184; email: [email protected]).
• Regulatory Context: Gold Basin has failed to deliver a directors’ circular as required under securities law, missing multiple reporting deadlines and an annual meeting deadline, and currently lacks a transfer agent and auditor.
• Legal & Advisory Team: Canex’s legal adviser – Borden Ladner Gervais LLP; information agent – Laurel Hill Advisory Group.

Notable Quotes

“We're thrilled with the early response from Gold Basin shareholders and encourage others to join them in participating in the offer,” — Shane Ebert, President, Canex Metals Inc.

Materiality Assessment: Material – Positive** (the substantial share commitment and >100 % premium indicate a material positive development for Canex and its shareholders).