CANEX Metals Inc. reports corporate and mineral-property developments centered on its ownership position in Gold Basin Resources Corporation. Company news has covered its take-up of Gold Basin shares under an all-share offer, its role as controlling shareholder, and related shareholder-meeting, proxy, court-order, and governance matters involving Gold Basin.
Updates also address Gold Basin property issues, including liabilities, loan and settlement matters, asserted joint-venture interests, regulatory-compliance concerns, and developments tied to an oxide gold district in northern Arizona. The recurring news themes are corporate control, mineral-asset preservation, shareholder actions, and the resolution of disputes affecting Gold Basin and its project interests.
CANEX Metals (NOMNF) closed an oversubscribed, non-brokered private placement, raising C$9,545,870 to fund exploration and meet remaining acquisition obligations.
The financing issued 22,841,286 common shares at $0.35 each for C$7,994,450 and 2,873,000 charity flow-through shares at $0.54 each for gross proceeds of C$1,551,420. Largest shareholder N. Eric Fier contributed C$3 million and holds about 9.6% of the company.
CANEX plans to use proceeds for exploration, drilling and pre-development at Gold Basin/Gold Range, drilling at the Louise Copper-Gold Porphyry project, and general working capital. Funds will also cover remaining obligations relating to its 100% acquisition of Gold Basin Resources. The company said the financing enables a transition from a year-long merger and acquisition phase into exploration and drilling.
CANEX Metals (NOMNF) increased its previously announced non-brokered private placement to raise up to C$9 million in equity financing.
The company now plans to issue up to 21,428,571 common shares at C$0.35 per share for proceeds of up to C$7.5 million, and up to 2,777,778 charity flow-through (FT) shares at C$0.54 per FT share for additional gross proceeds of up to C$1.5 million. Securities will be placed privately with accredited investors and will be subject to a hold period of four months plus one day from closing. The financing requires TSX Venture Exchange and other regulatory approvals. CANEX states it is using exemptions from the formal valuation and minority approval requirements of MI 61-101, as the fair market value of the financing is below 25% of its market capitalization.
Net proceeds are earmarked for exploration and pre-development at the Gold Basin/Gold Range and Louise projects, obligations related to the 100% acquisition of Gold Basin Resources, and general working capital.
CANEX Metals (NOMNF) announced a non-brokered strategic financing of up to C$6.5 million following its 100% acquisition of Gold Basin Resources.
The company plans to issue up to 14,285,714 common shares at C$0.35 for proceeds of up to C$5.0 million and up to 2,777,778 charity flow-through shares at C$0.54 for proceeds of up to C$1.5 million, all via private placement to accredited investors. Lead order is from N. Eric Fier, investing C$3.0 million and holding about 9.6% of CANEX post-financing. Proceeds will fund exploration, drilling, and pre-development at the consolidated Gold Basin/Gold Range oxide gold project in Arizona, drilling at the Louise Copper-Gold Porphyry Project in British Columbia, remaining Gold Basin acquisition obligations, and general working capital. The financing is subject to TSX Venture Exchange and regulatory approval and carries a four-month-plus-one-day hold period.
CANEX Metals (OTC:NOMNF) is completing the final procedural step in its year-long hostile acquisition of its 100%-owned subsidiary Gold Basin Resources, consolidating the Gold Range–Gold Basin oxide gold district in Arizona. The combined land package now includes 5 split estate mineral titles, 2 patented mining claims, and 546 lode claims, supported by a database of over 950 current and historic drill holes with multiple highlighted intercepts above 1 g/t gold over significant widths.
CANEX has secured a 2-year extension to its Gold Range exploration permit, staked 79 additional lode claims at Gold Basin, and received a 5-year mineral exploration permit for the Louise Copper-Gold Porphyry project in British Columbia, allowing 11 drill holes and 52 line-kilometres of geophysics. The company is issuing up to 17,635,846 CANEX shares to dissenting Gold Basin shareholders, bringing total shares outstanding to about 247.1 million, and has granted 7,800,000 stock options at $0.24 per share to directors, officers, and consultants.
Summary not available.
CANEX Metals (NOMNF) reported surface exploration results from the combined Gold Basin–Gold Range project in Arizona, confirming three undrilled gold targets: Ring Bear, Golden Chalice, and West Chalice.
Chip sampling returned up to 14.83 g/t gold, and drill permitting and broader exploration programs are being advanced.
CANEX Metals (TSXV:CANX) completed its previously announced arrangement with Gold Basin Resources (TSX.V:GXX), and now owns 100% of Gold Basin’s outstanding shares.
Gold Basin shareholders received 0.592 CANEX share per Gold Basin share. The deal was approved by shareholders on June 4, 2026 and received final court approval on June 9, 2026.
CANEX Metals (OTC:NOMNF) completed its previously announced arrangement with Gold Basin Resources, and now owns or controls 100% of Gold Basin’s shares.
Gold Basin shareholders received 0.592 CANEX share per Gold Basin share. The deal was approved June 4, 2026 and received a final court order June 9, 2026. CANEX plans to focus on the combined Gold Basin and Gold Range properties.
Summary not available.
CANEX Metals (OTCQB:NOMNF) and Gold Basin Resources signed an Arrangement Agreement for CANEX to acquire all Gold Basin shares via a court-approved plan of arrangement.
Gold Basin shareholders receive 0.592 CANEX shares per share, a 242% premium, and will own about 32.3% of the combined company. Closing is targeted for June 2026, with CANEX issuing approximately 38.5M new shares. CANEX will also provide Gold Basin a secured $900,000 term loan at RBC prime plus 5% for six months.