Baselode Energy Merger with Forum Receives Shareholder Approval

• Forum Energy shareholders approved the arrangement with a 97.57% vote on 19 August 2025
• Exchange ratio set at 0.3535 Baselode shares for each Forum share
• Combined entity will be renamed Geiger Energy Corporation, subject to shareholder approval
• Baselode shareholders will vote on potential share consolidation up to 5-to-1 on 16 September 2025
• Final court approval scheduled for 22 August 2025

Baselode Energy Corp. (TSXV: FIND) controls approximately 226,128 hectares for exploration in Saskatchewan's Athabasca Basin area. The land package is free of option agreements or underlying royalties. The company discovered the ACKIO uranium prospect in September 2021, which measures greater than 375 metres along strike and greater than 150 metres wide.

ACKIO comprises at least nine separate uranium pods with mineralisation starting at 28 metres depth in Pod 1 and 32 metres depth in Pod 7, extending to approximately 300 metres depth. The bulk of mineralisation occurs in the upper 120 metres, with the prospect remaining open at depth and to the north, south and east.

Forum Energy Metals (TSXV: FMC) is a Canadian uranium exploration company focused on discovering high-grade unconformity-related uranium deposits in the Athabasca Basin, Saskatchewan and the Thelon Basin, Nunavut.

Forum Energy Metals Merger Approval

The arrangement received approval from 97.57% of Forum shareholders at the special meeting on 19 August 2025. The vote exceeded the required two-thirds majority of votes cast and the separate majority requirement excluding interested parties under Multilateral Instrument 61-101. Forum shareholders will receive 0.3535 Baselode common shares for each Forum share held.

The arrangement required approval from at least 66⅔% of votes cast by Forum shareholders present or represented by proxy. A separate majority vote was required from shareholders excluding those defined as interested parties under securities regulations. Both thresholds were met during the voting process.

Forum will now seek a final order from the Superior Court of British Columbia to approve the arrangement on 22 August 2025. The transaction is expected to complete shortly after receiving the final court order.

Corporate Restructuring and Name Change

Baselode will hold its Annual General and Special Meeting on 16 September 2025 to seek shareholder approval for changing the company name to Geiger Energy Corporation. Shareholders will also vote on a potential consolidation of common shares on a basis of one post-consolidation share for up to every five pre-consolidation shares.

The proposed name change forms part of the corporate restructuring following the merger completion. The share consolidation proposal provides flexibility in determining the final ratio based on circumstances at the time of implementation. Both matters require shareholder approval at the September meeting.

Management has indicated that the timing of these corporate changes aligns with the completion of the Forum acquisition. The restructuring elements are designed to establish the new corporate structure for the combined entity.

Combined Entity Strategic Focus

The merged entity, to be called Geiger Energy Corporation, will focus on developing the 100%-owned Aberdeen and Hook projects located in Nunavut and Saskatchewan respectively. Dr. Rebecca Hunter will serve as CEO and Stephen Stewart as Chairman, with support from the Ore Group team.

Dr. Hunter and Janet Meiklejohn, currently on Forum's board of directors, will be appointed to Geiger's board. The combined company will hold Forum's assets in the Athabasca Basin, Saskatchewan and Thelon Basin, Nunavut, alongside Baselode's existing Athabasca Basin holdings.

Baselode's exploration approach to this point has focused on discovering basement-hosted uranium deposits outside the Athabasca Basin using geophysical methods to identify structural controls for diamond drilling targets. The combined entity will maintain this exploration methodology alongside Forum's unconformity-related uranium deposit expertise.

Conclusion

Forum Energy will seek final court approval on 22 August 2025, with arrangement completion expected shortly thereafter. Baselode shareholders will vote on the name change and share consolidation proposals at their 16 September 2025 meeting to complete the corporate restructuring.

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