CANEX and Gold Basin Resources Announce a Settlement Agreement Has Been Reached with Charrua Capital LLC
Rhea-AI Summary
CANEX (OTC: NOMNF) and Gold Basin Resources (TSX.V: GXX) announced a settlement with Charrua Capital on May 6, 2026 resolving a dispute over a US$500,000 unsecured loan dated August 21, 2024.
Gold Basin will pay US$217,367.40 and the parties mutually released claims related to the Loan Agreement; the settlement is not an admission of liability and does not release Michael Povey or Charles Straw from any claims.
CANEX said the settlement and a separate Helix JV development reduce impairments and help advance a potential full combination.
Positive
- Settled disputed loan for US$217,367.40
- Mutual release of claims related to the Loan Agreement
- Avoids litigation expense, burden and uncertainty
Negative
- Original loan principal was US$500,000 with 15% interest and high fees
- Settlement requires an immediate cash payment of US$217,367.40
- Settlement does not release Michael Povey or Charles Straw from claims
AI-generated analysis. How Rhea-AI works. Not financial advice.
CALGARY, AB / ACCESS Newswire / May 6, 2026 / CANEX Metals Inc. ("CANEX" or the "Company") (TSXV:CANX) is pleased to report that Gold Basin Resources Corporation ("Gold Basin") (TSX.V:GXX)has today announced a settlement agreement ("Settlement Agreement") with Charrua Capital LLC ("Charrua") in respect of the disputed enforceability of the unsecured loan agreement dated August 21, 2024 between Gold Basin and Charrua (the "Loan Agreement"). The Loan Agreement bore a principal amount of US
Under the Settlement Agreement, Gold Basin has agreed to pay Charrua US
Dr. Shane Ebert, President and CEO of CANEX stated "Todays announcement of the settlement of the Charrua loan combined with yesterday's announcement that Gold Basin considers the Helix Joint Venture to be invalid are major achievements toward reducing the impairments and risk that have been hanging over the Gold Basin project. CANEX and Gold Basin will continue to work diligently to preserve the value of this exceptional asset and to advance the companies toward a full combination".
About CANEX Metals
CANEX Metals (TSX.V:CANX) is a Canadian junior exploration company and the controlling shareholder of Gold Basin Resources, owning
CANEX is also advancing the Louise Copper-Gold Porphyry Project in British Columbia. Louise contains a large historic copper-gold resource that has seen very little deep or lateral exploration, offering investors copper and gold discovery potential. CANEX is led by an experienced management team which has made three notable porphyry and bulk tonnage discoveries in North America and is sponsored by Altius Minerals (TSX: ALS), a large shareholder of the Company.
"Shane Ebert"
Shane Ebert, President/Director
For Further Information Contact:
Shane Ebert at 1.250.964.2699 or
Jean Pierre Jutras at 1.403.233.2636
Web: http://www.canexmetals.ca
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Except for the historical and present factual information contained herein, the matters set forth in this news release, including words such as "potential", "risk", "opportunity", "considers" and similar expressions, are forward-looking information that represents management of CANEX Metals Inc.'s internal projections, expectations or beliefs concerning, among other things: the release and discharge of any and all security interests and claims against Gold Basin and its assets by Charrua; the invalidity of the Helix Joint Venture; the reduction of impairments and risks hanging over the Gold Basin project; the preservation of value of the Gold Basin project; the combination of Gold Basin with CANEX pursuant to a subsequent acquisition transaction to acquire all the Gold Basin shares CANEX does not currently own; CANEX's plans for Gold Basin; the Company's ability to fund exploration and development of a consolidated oxide gold district in Northern Arizona; and future operating results and various components thereof or the economic performance of CANEX. The projections, estimates and beliefs contained in such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause CANEX's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include the risk of Charrua not releasing and discharging security interests and claims against Gold Basin and those risks described in CANEX's filings with the Canadian securities authorities. Accordingly, holders of CANEX's common shares and potential investors are cautioned that events or circumstances could cause results to differ materially from those predicted. CANEX disclaims any responsibility to update these forward-looking statements, except as required by applicable laws.
SOURCE: CANEX Metals Inc.
View the original press release on ACCESS Newswire