CANEX Metals Completes Acquisition of Gold Basin Resources

CANEX Metals Inc., based in Calgary, has finalized its acquisition of Gold Basin Resources Corporation. As of June 11, 2026, CANEX now holds 100% of Gold Basin's issued and outstanding shares. The acquisition was conducted through an arrangement first announced on May 12, 2026, and approved by Gold Basin's shareholders on June 4, 2026.

Under the terms, Gold Basin shareholders received 0.592 CANEX shares for each Gold Basin share. The Supreme Court of British Columbia approved the arrangement on June 9, 2026. CANEX President Shane Ebert highlighted the consolidation as pivotal for enhancing the potential of the Gold Basin and Gold Range properties in Arizona, aiming to develop significant gold deposits.

CANEX's strategic focus will now include advancing the exploration of the Gold Basin and Gold Range properties, promising areas for gold discovery. The company is also progressing with the Louise Copper-Gold Porphyry Project in British Columbia, seeking further development of copper-gold resources.