Baselode Energy And Forum Energy Metals Combine To Create A New Force In Canadian Uranium Exploration

24 June 2025

VANCOUVER, B.C., - Baselode Energy Corp. (“Baselode”) (TSXV: FIND; OTCQB: BSENF) and Forum Energy Metals Corp. (“Forum”, together with Baselode, the “Parties”) (TSXV: FMC; OTCQB: FDCFF) are pleased to announce that they have entered into a definitive arrangement agreement (the “Arrangement Agreement”)  in an at-market business combination whereby Baselode will acquire all of the issued and outstanding common shares of Forum (the “Forum Shares”) pursuant to a court-approved plan of arrangement (the “Arrangement”). The combined company will continue under the name Geiger Energy Corporation (“Geiger”) (TSXV: BEEP; OTCQB: BSENF)

Strategic Rationale for Geiger Energy

This business combination creates a uranium exploration leader with enhanced scale, diversified assets,  a strengthened leadership team, and is backed by the Ore Group’s proven capital markets platform. With a clear focus on discovery and growth, the combined company is positioned to immediately execute an aggressive exploration strategy and attract broader market interest.

Key Highlights

  • Significant Potential: Flagship 100%-owned Aberdeen Project in the Thelon Basin, an underexplored region with district potential. A drill program to begin immediately.
  • Pipeline Growth from Hook: The Hook Project remains a high-priority follow-up, with large-scale alteration systems suggestive of significant discovery potential and growth.
  • One of Canada’s Largest Uranium Exploration Portfolios: 100%-owned projects across the Thelon and Athabasca basins, two of the most prolific uranium regions globally.
  • Optionality Through Critical Minerals: Additional copper and critical mineral exposure adds strategic upside and future optionality.
  • Strong Capital Foundation: Clean capital structure, proven capital-raising capability, and enhanced market visibility.
  • Refreshed Leadership: Dr. Rebecca Hunter, a leading Thelon expert, appointed CEO. Stephen Stewart continues as Chair, with a reconstituted board drawn from both teams.
  • Ore Group Platform: Strategic guidance, capital markets execution, and long-term alignment under the Ore Group umbrella.

Shareholder Benefits

  • Clear plan for growth, discovery, and value creation.
  • Increased scale and relevance for institutional and index investors.
  • Immediate, high-impact exploration at Aberdeen.
  • Exposure to multiple high-potential assets and districts.
  • Strengthened financial and execution capacity.

Rebecca Hunter, Forum’s President and Chief Executive Officer who will continue in the same role at Geiger, stated: “I am excited about this merger and the opportunity to combine the highly prospective portfolios of Forum and Baselode into a new, unified entity.  Most importantly, it enables us to unlock the full exploration potential of the Aberdeen Project starting this summer. With our combined resources and a shared vision, we are now positioned to advance the Aberdeen Project through a comprehensive and appropriately scaled drill program aimed at delivering what we believe to be a significant discovery opportunity.”

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