Business
CANEX Metals Closes $3 Million Strategic Financing, Lead Investor Eric Fier is Now a Canex Insider, Momentum Building for Offer to Purchase Gold Basin
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES CAL...
About this update from Canex Metals Inc
[{"type":"text","content":"CANEX Metals Closes $3 Million Strategic Financing, Lead Investor Eric Fier is Now a Canex Insider, Momentum Building for Offer to Purchase Gold BasinNOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES CALGARY, AB / ACCESS Newswire / December 23, 2025 / CANEX Metals Inc. (\"CANEX\" or the \"Company\") (TSX.V:CANX) is pleased to announce that it has closed its previously announced non-brokered private placement (the \"Financing\") of 20,000,000 common shares (the \"Common Shares\") for gross proceeds of $3,000,000. The Company is also pleased to announce that Mr. Eric Fier is now the largest shareholder and is an insider of the Company.Highlights:Mr. Eric Fier was the lead order in the Financing and is now an insider of the Company, with ownership of 10%Strategic investor Michael Gentile reinforced his strong support for CANEX and also participated in the Financing alongside the Company's management and boardThe Financing removes financial risk related to the Company's offer (the \"Offer\") to acquire all of the issued and outstanding shares of Gold Basin Resources Corporation (\"Gold Basin\") (TSX.V:GXX), and highlights the Company's ability to fundexploration and development of a consolidated oxide gold district in Northern ArizonaApproximately 44% of the shareholders of Gold Basin have tendered their shares to the Offer, demonstrating that support for the Offer is continuing to build momentumThe Offer represents an implied premium of 183%, based on CANEX's December 22, 2025 closing price and the last closing price of the shares of Gold Basin shares prior to the imposition of the cease-trade order on May 6, 2025. The Offer value equates to approximately $17,200,000 or $0.13 per Gold Basin share. We encourage all Gold Basin shareholders to tender to the CANEXoffer and take advantage of this strong premium and the assurance of exchanging non-trading Gold Basin shares with tradable, compliant, and valuable shares of CANEXFinancing ParticipantsThe Company is pleased to announce that, post-Financing, Mr. Eric Fier owns 10% of CANEX and has become an insider of the Company. Mr. Fier is a mining industry leader with a track record of significant discoveries, project development, financings, and mine constructions with subsequent successful production (both open pit and underground). He along with h...