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Baselode Energy Corp. (TSXV: FIND,OTC:BSENF) (OTCQB: BSENF) ("Baselode" or the "Company") is pleased to announce that Forum Energy Metals (TSXV: FMC) ("Forum") shareholders ("Forum Shareholders") have overwhelmingly voted in favour of approving the previously announced plan of arrangement (the "Arrangement") with Baselode pursuant to which Baselode will acquire all of the issued and outstanding shares of Forum at a share exchange ratio of 0.3535 Baselode common shares for each Forum share held.
Results from Forum's Special Meeting of Shareholders ("Forum Special Meeting")
97.57% of shareholders voted in favour of the Arrangement on August 19, 2025. The Arrangement required the approval of (i) at least two-thirds (66⅔%) of the votes cast by Forum shareholders present or represented by proxy and entitled to vote at the Forum Special Meeting; and (ii) a majority of the votes cast by Forum shareholders present in person or represented by proxy and entitled to vote at the Forum Special Meeting excluding shares held by "interested parties" as defined in Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101").
Next Steps
Forum will seek a final order (the "Final Order") of the Superior Court of British Columbia (the "Court") to approve the Arrangement on August 22, 2025. It is expected that the Arrangement will be completed shortly after the receipt of the Final Order.
Baselode's Annual General and Special Meeting
Baselode's Annual General and Special Meeting will be held on September 16, 2025 whereby Baselode will seek shareholder approval to change its name to Geiger Energy Corporation. Additionally, Baselode will also seek shareholder approval for a potential consolidation of the issued and outstanding common shares ("Common Share") in the capital of the Company on the basis of one (1) post-consolidation Common Share for up to every five (5) outstanding pre-consolidation Common Shares.
Geiger Energy Metals: Canada's Next Great Uranium Story
Geiger Energy Metals ("Geiger") will be a well capitalized leader in Canadian uranium exploration focused on developing its 100%-owned Aberdeen and Hook projects, located in Nunavut and Saskatchewan, respectively.
Geiger will be led by Dr. Rebecca Hunter (CEO) and Stephen Stewart (Chairman), backed by the Ore Group team. Dr. Rebecca Hunter and Janet Meiklejohn, currently part of Forum's board of directors, will be appointed to Geiger's board of directors.
About Forum Energy Metals Corp.
Forum is focused on the discovery of high-grade unconformity-related uranium deposits in the Athabasca Basin, Saskatchewan and the Thelon Basin, Nunavut. For further information: https://www.forumenergymetals.com.
About Baselode Energy Corp.
Baselode controls 100% of approximately 226,128 hectares for exploration in the Athabasca Basin area of northern Saskatchewan, Canada. The land package is free of any option agreements or underlying royalties.
Baselode discovered the ACKIO near-surface, uranium prospect in September 2021. ACKIO measures greater than 375 m along strike, greater than 150 m wide, comprised of at least 9 separate uranium Pods, with mineralization starting as shallow as 28 m and 32 m beneath the surface in Pods 1 and 7, respectively, and down to approximately 300 m depth beneath the surface with the bulk of mineralization occurring in the upper 120 m. ACKIO remains open at depth, and to the north, south and east.
Baselode's Athabasca 2.0 exploration thesis focuses on discovering near-surface, basement-hosted, high-grade uranium orebodies outside the Athabasca Basin. The exploration thesis is further complemented by Baselode's preferred use of innovative and well-understood geophysical methods to map deep structural controls to identify shallow targets for diamond drilling.
On behalf of the Board of Directors of Baselode Energy Corp.
"James Sykes"
James Sykes
CEO, President, & Director
Email: jsykes@oregroup.ca
Phone: 416-644-1567
Cautionary Statement
Certain information in this press release may contain forward-looking statements. In particular, this press release contains forward-looking information relating to, among other things, the intended use of proceeds of the Offering and the final approval of the Offering from the TSXV. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Baselode Energy Corp. assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to Baselode Energy Corp. Additional information identifying risks and uncertainties is contained in the Company's filings with Canadian securities regulators, which filings are available under Baselode Energy Corp. profile at www.sedarplus.ca.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Not for distribution to United States Newswire Services or for dissemination in the United States
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/263114
