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Canex Announces Strong and Growing Support for Gold Basin Offer
Over 26% of Gold Basin shares have been committed under Lock-up Agreements Gold Basin cont...
About this update from Canex Metals Inc
[{"type":"text","content":"Canex Announces Strong and Growing Support for Gold Basin OfferOver 26% of Gold Basin shares have been committed under Lock-up AgreementsGold Basin continues to be a rudderless ship, with even the most basic governance obligations abdicated by the Gold Basin BoardGold Basin shareholders looking to tender to the Offer should contact Laurel Hill Advisory Group, the information agent in connection with the Offer, by telephone at 1-877-452-7184, (1-416-304-0211 for collect calls outside North America), or by email at [email protected]. CALGARY, AB / ACCESS Newswire / September 25, 2025 / CANEX Metals Inc. (\"CANEX\" or the \"Company\") (TSXV:CANX) is pleased to provide an update on the previously announced Offer (unless otherwise stated, all capitalized terms having the meaning ascribed to them in the offer to purchase circular filed on Sedar+ on August 28, 2025) to acquire Gold Basin Resources Corporation (TSX.V:GXX).Over 26% of Gold Basin shares have already been committed to the Offer under binding Lock-Up Agreements, less than 28 days into the 105-day bid period. This figure is nearly double the number of committed shares at the announcement of the Offer, and represents only shares subject to a contractual agreement to deposit to the Offer. This does not include the overwhelming support from other Shareholders who have contacted CANEX and Laurel Hill to deposit outside of a Lock-Up Agreement. Based on the September 24, 2025, closing price of CANEX shares on the TSX Venture Exchange, the Offer represents in a premium in excess of 100% to Gold Basin shareholders compared to Gold Basin's closing price prior to the BCSC's imposition of the cease-trade order.\"We're thrilled with the early response from Gold Basin Shareholders and encourage others to join them in participating in the Offer,\" said Shane Ebert, President of CANEX. \"While it's unsurprising that this premium Offer would be compelling to Gold Basin Shareholders trapped in an illiquid investment, we are pleased by the early support and look forward to building a company that is greater than the sum of its parts and helping Gold Basin shareholder move past this troubling period\".Shareholders wishing to join them and commit to Lock-Up Agreements or to otherwise tender to the Offer should contact Laurel Hill Advisory Group, by telephone at 1-877-452-7184, (1-416-30...