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Canex Metals Announces Success of Gold Basin Take-Over Bid, Extension of the Partial Revocation of the Cease-Trade Order Imposed on Gold Basin, Waiver of All Remaining Conditions, Initiation of the Share Take Up Process, and Mandatory 10-Day Extension
CALGARY, AB / ACCESS Newswire / January 29, 2026 / CANEX Metals Inc. ("CANEX" or the "Company"...
About this update from Canex Metals Inc
[{"type":"text","content":"Canex Metals Announces Success of Gold Basin Take-Over Bid, Extension of the Partial Revocation of the Cease-Trade Order Imposed on Gold Basin, Waiver of All Remaining Conditions, Initiation of the Share Take Up Process, and Mandatory 10-Day ExtensionCALGARY, AB / ACCESS Newswire / January 29, 2026 / CANEX Metals Inc. (\"CANEX\" or the \"Company\") (TSXV:CANX) is very pleased to announce that it has satisfied the statutory minimum tender requirement for its offer (the \"Offer\") to acquire all of the issued and outstanding common shares of Gold Basin Resources Corporation (\"Gold Basin\") (TSX.V:GXX), plans; has received an order from the British Columbia Securities Commission (\"BCSC\") dated January 28, 2026 (the \"Partial Revocation Extension Order\"), extending the partial revocation order dated August 18, 2025 (the \"Partial Revocation Order\") with respect to the cease-trade order imposed on Gold Basin on May 6, 2025; has waived all remaining conditions to the Offer, and is proceeding to take-up shares under the Offer. CANEX is also announcing the mandatory 10-day extension of the Offer (the \"Extension\"), in accordance with Canadian securities laws. Following the share take-up CANEX will become the controlling shareholder of Gold Basin and will work diligently to unlock the immense potential of the large and advanced oxide-gold district in Northern Arizona.Highlights:More than 51% of the shares of Gold Basin (\"Gold Basin Shares\") have been deposited under the CANEX Offer and the process for take-up and payment is underway, after which CANEX will become the controlling shareholder of Gold Basin. CANEX will proceed with the steps required to gain board control, address and clean up Gold Basin's regulatory deficiencies and debts, and get to work unlocking shareholder valueThe BCSC has granted the Partial Revocation Extension Order, which provides that the Partial Revocation Order will now expire on March 31, 2026CANEX announces a mandatory Extension to February 10, 2026 at 5:00 p.m. (Toronto time), to allow those remaining shareholders of Gold Basin (\"Gold Basin Shareholders\") that have not tendered time to deposit their Gold Basin Shares under the OfferFollowing the Extension, CANEX will take up the additional shares tendered by the revised expiry time of February 10, 2026 at 5:00 p.m. (Toronto time) and does not inten...