A Court-Appointed Annual General Meeting of Gold Basin Shareholders Has Been Called for March 16, 2026

The news release dated February 12, 2026, confirms that the Supreme Court of British Columbia has granted CANEX Metals Inc. an order to call an Annual General Meeting (AGM) for its takeover target, Gold Basin Resources Corporation (GXX), on March 16, 2026. Critically, the court has restrained Gold Basin from transacting any business—including selling assets, issuing securities, or incurring debt—without prior court approval until the meeting concludes. This follows the February 10 announcement that CANEX successfully took up 73,026,822 shares of Gold Basin, representing a controlling 54.04% stake.

This is a game-changing development for CANEX. It effectively ends a hostile period marked by defensive tactics from Gold Basin management, who were accused of attempting to transfer material property to related parties and failing to hold meetings. - Control: CANEX now has a mathematical majority and a court-mandated path to replace the Gold Basin board. - Risk Mitigation: The "business restraint" order prevents Gold Basin management from further "scorched earth" policies or value-impairing transactions (like the Helix farm-in) before CANEX takes over. - District Consolidation: This clears the path to combine the Gold Range (CANEX) and Gold Basin (GXX) properties, creating a dominant oxide gold district in Arizona. - Investor Sentiment: The success of the bid, supported by institutional-grade investors like Eric Fier and Michael Gentile, transforms CANEX from a junior explorer into a serious district consolidator.

CANEX Metals is a Canadian explorer focused on gold and copper-gold porphyry systems. - Flagship Project: The Gold Range Project in Northern Arizona. It is a 5km-long mineralized trend with near-surface oxide gold discoveries (e.g., 1 g/t Au over 59.5m). - Acquisition Strategy: The Gold Basin acquisition adds an adjoining property with significant defined gold trends, aiming to create a "district-scale" oxide gold camp. - Secondary Project: The Louise Copper-Gold Porphyry in BC, which recently identified deep-looking IP targets (West Louise) that correlate with historical intercepts of 0.41% Cu and 0.40 g/t Au over 158m.