CALGARY, AB — February 12, 2026 — Leads & Copy — CANEX Metals Inc. (TSXV:CANX) has secured a court order from the Supreme Court of British Columbia that restricts Gold Basin Resources Corporation (TSX.V:GXX) from conducting any business without prior court approval until after its annual general meeting.
The court ordered that Gold Basin hold an annual general meeting on March 16, 2026. CANEX is authorized to send notice and conduct the meeting in the same way as if it were called by Gold Basin’s directors. The court has appointed Steve McKoen, K.C., as the independent chair for the meeting.
The order also requires Gold Basin to correct its central securities register, including any shareholder list kept by Gold Basin, as well as all transfers and shares tendered from the acquisition of common shares of Gold Basin in an all-share transaction through a take-over bid initiated by CANEX.
Gold Basin is restricted from transacting any business or causing its subsidiaries to do so, except what is necessary to cooperate with CANEX in holding the meeting, without court approval. The restrictions include: selling, transferring, disposing of, leasing, or encumbering any property; issuing any securities; borrowing or lending money or changing debt terms; assuming any liability or guarantee; moving, transferring, or spending money from any bank account, unless to convene the meeting; or any action that would allow a third party to enforce any security, lien, or encumbrance over any property.
CANEX’s petition for the order was successful despite Gold Basin seeking an adjournment. CANEX stated that Gold Basin issued a news release on February 11, 2026, announcing an annual general meeting of Gold Basin shareholders for May 12, 2026. They also encouraged third parties to submit proposals for the current board’s consideration. CANEX stated that Gold Basin’s proposed meeting date has been pre-empted by the court-ordered meeting, and that the invitation to third parties breaches a restraining order issued by the Court on February 2, 2026.
Justice Walker of the Supreme Court of British Columbia stated he was troubled by the actions of Gold Basin’s current board and that its solicitation of proposals appeared to breach the earlier restraining order.
CANEX has reserved the right to seek contempt orders against the Gold Basin board members personally regarding the February 11, 2026, press release and any further actions that breach the restrictions in the court order.
CANEX believes that the current Gold Basin board lost the support of the majority of its shareholders in the CANEX Bid. CANEX stated that it is disappointing that a rejected board would continue to risk shareholders’ investment by violating a court order in an attempt to sell Gold Basin’s assets without shareholder approval.
CANEX has retained Borden Ladner Gervais LLP as its legal advisor and Laurel Hill Advisory Group as its information agent.
CANEX Metals (TSXV:CANX) is focused on advancing its Gold Range Project in Northern Arizona and the Louise Copper-Gold Porphyry Project in British Columbia. Altius Minerals (TSX:ALS) is a large shareholder of CANEX.
Dr. Shane Ebert P.Geo., is the Qualified Person for CANEX.
Shane Ebert is President/Director.
Neither the TSX Venture Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this release.
U.S. Notice
The Offer is being made for the securities of a foreign company and is subject to disclosure requirements that differ from those of the United States. Financial statements have been prepared in accordance with foreign accounting standards that may not be comparable to those of United States companies. It may be difficult to enforce rights under federal securities laws, as the issuer is located in a foreign country. The U.S. Securities and Exchange Commission has not approved or disapproved of the securities.
Forward-Looking Statements
This news release contains forward-looking information that represents management’s projections, expectations, or beliefs concerning the results of the Meeting, whether the Gold Basin board will comply with the Order, whether Gold Basin will regain regulatory compliance, and future operating results. These statements involve known and unknown risks and uncertainties that may cause actual results to differ materially from those projected. CANEX disclaims any responsibility to update these forward-looking statements.
Source: CANEX Metals Inc.
