Forum Energy Metals Announces Shareholder Approval for Acquisition by Baselode Energy

Executive Summary

• Shareholders approved Forum Energy Metals’ plan of arrangement with Baselode Energy, clearing the transaction for court approval.
• The deal will result in all Forum common shares being exchanged for 0.3535 Baselode common shares; options and warrants will be converted on a proportional basis.
• Upon receipt of the Final Order (expected August 22, 2025) the arrangement is expected to close shortly thereafter, after which Forum’s TSXV listing will be terminated.

Key Details

• Shareholder Approval: 97.57% of votes cast (97.48% after excluding “interested parties”) were in favour; 108,801,782 shares represented (35.17% of outstanding shares).
• Exchange Ratio: Each Forum share will be exchanged for 0.3535 Baselode common share.
• Option/Warrant Treatment: Existing Forum options will be swapped for Baselode options; existing warrants become exercisable for Baselode shares, adjusted per the exchange ratio.
• Court Approval Timeline: Forum will seek a Final Order from the Superior Court of British Columbia on August 22, 2025.
• Closing Conditions: Subject to customary closing conditions and receipt (or waiver) of the Final Order; expected to close shortly after the order is issued.
• Post‑Completion Effects: Forum shares to be delisted from the TSX Venture Exchange; shareholders become holders of Baselode securities.
• Baselode Asset Overview (contextual): Controls ~241,409 ha in Athabasca Basin, free of royalties/options; discovered ACKIO near‑surface uranium prospect (>375 m strike, >150 m width).

Notable Quotes

“The overwhelming support from our shareholders underscores confidence in the strategic benefits of joining forces with Baselode to advance our high‑grade uranium projects.” – Rebecca Hunter, President & CEO, Forum Energy Metals Corp.