CANEX Metals Initiates Take-Over Bid for Gold Basin Resources

CANEX Metals Inc. has launched a formal offer to acquire all outstanding shares of Gold Basin Resources Corporation, alongside a take-over bid that promises an upfront premium and potential liquidity improvements for Gold Basin shareholders. As of now, 18% of Gold Basin shares have committed to the bid, urging others to participate.

The proposed offer, detailed in an announcement on August 28, 2025, involves the annual exchange of 0.592 CANEX shares per Gold Basin share, projecting a 24.2% premium based on recent evaluations. The offer is valid until December 12, 2025, and subject to regulatory and shareholder approval.

This bid aims to consolidate the gold districts in Mojave County, Arizona, leveraging CANEX's efficient management and prospective copper-gold assets. The documentation for this bid has been disseminated among securities regulators in Canada and filed with the US Securities and Exchange Commission, ensuring transparency and regulatory compliance.