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by Mike Caswell

Canex Metals Inc. has filed a case in the Supreme Court of British Columbia to remove the directors of Gold Basin Resources Corp., which holds a gold project in Arizona. Canex says that it has acquired more than half of Gold Basin's shares and has since demanded that Gold Basin's board resign. So far, the board has done nothing, Canex complains.

The allegations are contained in a petition that Canex filed at the Vancouver courthouse on Monday, Feb. 2. The case arises from a takeover that Canex began on June 9, 2025, in which it offered to acquire all of Gold Basin's shares. As of Jan. 29, 2026, Canex had amassed tenders for over half of Gold Basin, the petition states.

With the majority of Gold Basin's shares in hand, Canex immediately demanded that Gold Basin's directors resign to make way for a board put forward by Canex, the petition states. So far, Gold Basin's board has not responded to that demand. As Gold Basin sees things, the need for change is urgent, as Gold Basin's directors have been "acting in their own self-interest and entering into related-party transactions that have harmed and will cause further harm to Gold Basin."

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