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CANEX Metals and Gold Basin Resources Announce Arrangement Agreement to Facilitate CANEX’S Acquisition of Remaining Gold Basin Shares
Gold Basin Shareholders will receive identical consideration as those who tendered to CANEX's earlier offer Liquidity, enhanced financial capacity, and signific
About this update from Canex Metals Inc
[{"type":"text","content":" Gold Basin Shareholders will receive identical consideration as those who tendered to CANEX's earlier offer Liquidity, enhanced financial capacity, and significant premium of 242% represent key benefits for Gold Basin Shareholders Combination will consolidate the Arizona oxide gold district CALGARY, AB AND VANCOUVER, BC / ACCESS Newswire / May 12, 2026 / CANEX Metals Inc. (\"CANEX\") (TSXV:CANX) and Gold Basin Resources Corporation (\"Gold Basin\") (TSXV:GXX) are pleased to announce that they have entered into a definitive agreement (the \"Arrangement Agreement\") to combine their respective businesses by way of a plan of arrangement under the Business Corporations Act (British Columbia) (the \"Arrangement\"). The combined company will be managed by the CANEX executive team. Under the terms of the Arrangement, shareholders of Gold Basin (\"Gold Basin Shareholders\") will receive 0.592 shares of CANEX (\"CANEX Shares\") per share of Gold Basin (\"Shares\") held, the same consideration received by Gold Basin Shareholders who tendered to the CANEX offer to acquire Shares which expired on February 10, 2026. This represents a premium of 242.0% to the last trading price of the Shares prior to the Cease Trade Order, based on the closing price of the CANEX Shares as of May 8, 2026. Dr. Shane Ebert, President and CEO of CANEX stated: \"Today's announcement of an agreement to combine the two companies will allow us to consolidate and advance a promising gold district in Arizona. CANEX will be pleased to welcome Gold Basin Shareholders as new shareholders of CANEX.\" Jordan Ross, independent director and Chair of the Gold Basin Special Committee, commented: \"The Arrangement Agreement represents a strategic milestone for our shareholders. By partnering with CANEX, we are unlocking the full potential of our Arizona project while providing a stable, clear-cut path forward that resolves previous liquidity and regulatory challenges. Following a rigorous review with our professional advisors, we are confident this agreement offers the most robust and value-driven future for our investors.\" Benefits to Gold Basin Shareholders Significant Upfront Premium to Shareholders. The consideration offered under the Arrangement represents a 242.0% premium to the last trading price of the Shares prior to the Cease Trade Order, based on the closing price o...