Forum Energy Metals Announces Shareholder Approval for Acquisition by Baselode Energy

Core Viewpoint - Forum Energy Metals Corp. has received overwhelming shareholder approval for its arrangement with Baselode Energy Corp., which involves the exchange of shares and options as part of the acquisition process [1][5]. Group 1: Arrangement Details - Under the arrangement, shareholders will receive 0.3535 of a Baselode common share for each Forum share held, with adjustments made for options and warrants [2]. - The arrangement required at least two-thirds (66⅔%) approval from shareholders present at the meeting, along with a majority excluding interested parties [4]. - A total of 108,801,782 shares were represented at the meeting, accounting for 35.17% of the total issued shares [3]. Group 2: Voting Results - Of the votes cast, 97.57% were in favor of the arrangement, which increased to 97.48% after excluding shares as required [5]. Group 3: Next Steps - The company will seek a final court order to approve the arrangement on August 22, 2025, with completion expected shortly after if customary closing conditions are met [6]. Group 4: Company Background - Baselode Energy controls approximately 241,409 hectares for exploration in the Athabasca Basin, with no underlying royalties [7]. - Forum Energy Metals focuses on high-grade uranium deposits in Canada, holding significant land positions in Saskatchewan and Nunavut [10].