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CANEX Metals Announces The Purported Joint Venture Agreement Between Gold Basin And Helix Resources On The Gold Basin Property Is Not Valid
CALGARY, AB / ACCESS Newswire / May 5, 2026 / CANEX Metals Inc. ("CANEX" or the "Company") (TSXV:CANX) is pleased to report that Gold Basin Resources Corporatio
About this update from Canex Metals Inc
[{"type":"text","content":" CALGARY, AB / ACCESS Newswire / May 5, 2026 / CANEX Metals Inc. (\"CANEX\" or the \"Company\") (TSXV:CANX) is pleased to report that Gold Basin Resources Corporation (\"Gold Basin\") (TSX.V:GXX) has today announced that the purported joint venture between Gold Basin and Helix Resources Limited (\"Helix\") (ASX:HLX) (the \"Invalid Helix Joint Venture\") announced by Helix in its ASX Announcement on April 29, 2026 (the \"Helix Announcement\") is not valid and has no standing. Accordingly, Gold Basin has the stated opinion that Helix has no interest or rights in the Gold Basin Property. As the controlling shareholder in Gold Basin, the reasons outlined in Gold Basin's May 5, 2026, news release stating the Helix Joint Venture is not valid are repeated here: The Invalid Helix Joint Venture was approved and signed by Gold Basin's prior management contrary to a court order from the Supreme Court of British Columbia issued by Justice Baker on February 2, 2026, restraining Gold Basin from selling, transferring, disposing of, leasing, or encumbering any property of Gold Basin. Furthermore, the Invalid Helix Joint Venture did not receive the required approval of the TSX Venture Exchange and Gold Basin is of the view that the Invalid Helix Joint Venture did not disclose the required Canadian related party transaction disclosures including Kevin Lynn being a director of Helix and a director of Gold Basin Resources (Australia) Pty Ltd., and constituted an improper defensive tactic in response to the announcement of an unsolicited offer by Mayfair Acquisition Corp. to acquire Gold Basin in contravention of National Policy 62-202 - Take-Over Bids - Defensive Tactics. Accordingly, for the above noted reasons, it is Gold Basin's position that no valid joint venture has been formed between Helix and Gold Basin. Gold Basin provides further particulars below with respect to the Invalid Helix Joint Venture and the Helix Announcement which Gold Basin believes shareholders should be made aware of in considering the propriety of the Invalid Helix Joint Venture. Kevin Lynn, a director of Helix was also a director and secretary of Gold Basin Resources (Australia) Pty Ltd, a wholly owned subsidiary of Gold Basin, this was not publicly disclosed by Gold Basin to the market. The purported \"Initial Binding Letter JV offer\" dated November 12th, 2024, and is...