Gold Basin Updates on Arrangement with CANEX Metals

Gold Basin Resources Corporation has announced updates regarding its proposed arrangement with CANEX Metals Inc. The arrangement agreement, dated May 11, 2026, initially required exemptive relief related to the inclusion of audited financial statements. This was due to Gold Basin's limited access to previous accounting records before the management change in March.

The British Columbia Securities Commission expressed concerns about the deficient Arrangement Circular but decided against recommending enforcement. Gold Basin has since withdrawn its application for exemptive relief, opting to amend the agreement, removing the exemptive relief condition.

The shareholder meeting is rescheduled for June 3, 2026, and the final order hearing is anticipated for June 8, 2026. If approved, the arrangement completion is expected by June 10, 2026.