CALGARY, AB — January 19, 2026 — Leads & Copy — CANEX Metals Inc. has announced significant support for its offer to acquire all outstanding common shares of Gold Basin Resources Corporation and has extended the offer deadline to January 29, 2026.
The extension aims to accommodate Gold Basin shareholders experiencing delays in tendering, partly due to Gold Basin’s delinquent condition.
Over 49% of Gold Basin shares have been deposited under the offer, with additional tenders in progress. However, multiple tenders are considered deficient because Gold Basin lacks a transfer agent to rectify the issues.
CANEX continues to face delays due to a cease trade order against Gold Basin and various regulatory non-compliance issues, including the absence of a transfer agent. Despite these challenges, Gold Basin shareholders are showing strong support, and CANEX anticipates reaching the minimum tender requirement of 50% + 1 share shortly.
The offer deadline has been extended to 5:00 p.m. (Toronto time) on January 29, 2026, to provide additional time for Gold Basin shareholders to tender their shares. CANEX cautions that there is no certainty it can restore Gold Basin to compliant status, and the offer may be the last chance for shareholders to exchange their cease-traded shares for CANEX shares.
The offer represents an implied premium of 275%, based on CANEX’s 30-day volume-weighted price (VWAP) on January 16, 2026, and Gold Basin’s 30-day VWAP on its last trading day, May 6, 2025. The offer values Gold Basin at approximately $20,000,000, or roughly $0.15 per share, based on CANEX’s January 16, 2026 closing price.
CANEX has expressed gratitude to Gold Basin shareholders for their significant support despite the challenges posed by Gold Basin’s delinquent status. To date, 66,244,176 Gold Basin shares, representing 49.02% of the outstanding shares, have been tendered. CANEX will take up and pay for the Gold Basin shares once an additional 1,321,067 shares are tendered and all other conditions of the offer are met or waived.
An advertisement regarding the offer extension will appear in The Globe and Mail on January 19, 2026. A notice of variation, change, and extension is being mailed to Gold Basin security holders and will be available on SEDAR+ (www.sedarplus.com) and CANEX’s website (www.canexmetals.ca). The notice will also be filed with securities regulatory authorities in Canada and the U.S. Securities and Exchange Commission.
The notice will include updates to the information in CANEX’s original offer and take-over bid circular dated August 28, 2025, as amended by notices dated December 12, 2025, and January 9, 2026.
Copies of the original offer and circular, as well as the notice of variation and change, are available without charge from Laurel Hill Advisory Group, the information agent for the offer.
Upon reaching the minimum tender requirement, CANEX intends to take up the Gold Basin shares and participate in electing a qualified board of directors and pursuing district consolidation and advancement. CANEX reiterates that there is no certainty Gold Basin will regain regulatory compliance or that a subsequent acquisition transaction will be successful. The offer may be the last opportunity for Gold Basin shareholders to exchange their shares for CANEX shares.
Gold Basin shareholders with questions or needing assistance can contact Laurel Hill Advisory Group at 1-877-452-7184 (toll-free in Canada and the United States), 1-416-304-0211 (collect call outside of Canada and the United States), by texting “INFO” to either number, or by email at assistance@laurelhill.com.
CANEX’s legal advisor is Borden Ladner Gervais LLP, and its information agent is Laurel Hill Advisory Group.
CANEX Metals (TSX.V:CANX) is focused on advancing its Gold Range Project in Northern Arizona and the Louise Copper-Gold Porphyry Project in British Columbia.
Contact:
Shane Ebert at 1.250.964.2699 or
Jean Pierre Jutras at 1.403.233.2636
Source: CANEX Metals
