Baselode Energy Completes Forum Merger, Plans Rebrand to Geiger Energy

• Transaction Complete: Baselode Energy completed acquisition of Forum Energy Metals Corp. via court-approved arrangement
• Exchange Terms: Forum shareholders receive 0.3535 Baselode shares for each Forum share held
• New Leadership: Rebecca Hunter appointed CEO, Stephen Stewart remains Chairman
• Cash Position: Combined entity holds over $12 million in cash following recent $6 million financing
• Name Change: Company to seek shareholder approval to rebrand as Geiger Energy Corporation

Baselode Energy (TSXV: FIND; OTCQB: BSENF) is a Canadian uranium exploration company that controls approximately 241,409 hectares in Saskatchewan's Athabasca Basin area. The company discovered the ACKIO uranium prospect in September 2021, which measures over 375 metres along strike and over 150 metres wide, with mineralisation starting at 28 metres depth. The company focuses on discovering near-surface, basement-hosted uranium deposits outside the Athabasca Basin using geophysical methods.

Forum Energy Metals (TSXV: FMC; OTCQB: FDCFF) was a Canadian uranium exploration company that held 153,838 hectares in Saskatchewan and 95,519 hectares in Nunavut's Thelon Basin. The company's Aberdeen Project in Nunavut hosts the Tatiggaq and Qavvik uranium discoveries. Tatiggaq is defined over 300 metres of strike length with intercepts including 2.25% U₃O₈ over 11.1 metres. Qavvik covers a 100 x 100 metre area with mineralisation from surface to 400 metres depth.

Transaction Structure

The Supreme Court of British Columbia issued final approval for the arrangement on 22 August 2025. Forum shareholders approved the transaction at a special meeting held on 19 August 2025. Under the arrangement terms, each Forum share converts to 0.3535 Baselode shares, with stock options and warrants adjusted using the same ratio.

Following completion, Baselode has 291,627,336 shares outstanding. Forum shares will be delisted from the TSX Venture Exchange effective 29 August 2025. Baselode intends to apply for Forum to cease being a reporting issuer and terminate public reporting obligations.

The arrangement includes separation agreements with former Forum executives Richard Mazur and Dan O'Brien. Mazur receives $127,500 in cash payments and 3,348,000 Baselode shares. O'Brien receives $60,000 in cash payments and 1,575,529 Baselode shares. These amounts equal 101% of their change of control benefits.

Leadership and Governance Changes

Rebecca Hunter becomes CEO of Baselode. Stephen Stewart continues as Chairman. James Sykes remains as Director and Special Advisor. The board comprises five members: Stephen Stewart, James Sykes, Charles Beaudry, Rebecca Hunter, and Paul Dennison.

At the annual meeting on 16 September 2025, Baselode will seek approval to expand the board to six members and appoint Stephen Stewart, James Sykes, Charles Beaudry, Michael Mansfield, Rebecca Hunter, and Janet Meiklejohn. The meeting will also consider changing the company name to Geiger Energy Corporation.

Hunter stated:

"With the completion of the plan of arrangement, I am excited to be stepping into the role of CEO of Baselode, which is well capitalised with over $12 million in cash and having multiple high-potential projects within its asset base, including Aberdeen in Nunavut and Hook in Saskatchewan."

Combined Asset Portfolio

The combined entity controls Baselode's Saskatchewan assets and Forum's Aberdeen Project in Nunavut. Aberdeen hosts over 50 exploration targets, with the Tatiggaq discovery showing mineralisation between 80 and 180 metres depth. To date, 500 metres of a 1,500-metre anomaly has been drill tested.

Baselode's ACKIO prospect comprises nine separate uranium pods with mineralisation from 28 metres to approximately 300 metres depth, with most occurring in the upper 120 metres. The prospect remains open at depth and in multiple directions.

The company holds over $12 million in cash following recent financing. Stewart commented: "With the closing of the recent $6M financing, Baselode is well capitalised to execute on its exploration plans at Aberdeen and Hook and will seek to generate multiple catalysts soon."

Next Steps

Baselode will hold its annual meeting on 16 September 2025 to vote on the name change to Geiger Energy Corporation and board expansion. The company plans to continue drilling at Aberdeen with updates expected in the near term. Forum shareholders must submit transmittal letters to Odyssey Trust Company to exchange their shares.

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