Baselode Energy Advances Strategic Uranium Consolidation as Forum Energy Metals Shareholders Prepare to Vote

Forum Energy Metals Corp. (TSXV: FMC, OTCQB: FDCFF) has commenced the formal voting process for a landmark acquisition that reshapes Canada’s uranium exploration landscape. The company distributed official shareholder materials and proxy documents on July 24, 2025, setting August 19, 2025 as the decisive date when shareholders will determine whether to approve the planned combination with Baselode Energy Corp.

Under the proposed arrangement agreement finalized on June 23, 2025, Baselode will acquire all outstanding Forum shares at an exchange ratio of 0.3535 Baselode common shares per Forum share. The transaction extends beyond equity holders—existing stock options will convert into equivalent Baselode instruments with adjusted terms, while warrant holders gain similar conversion rights at recalibrated exercise prices reflecting the exchange ratio.

Strategic Uranium Assets Drive Deal Rationale

The transaction’s foundation rests on Forum’s substantial exploration portfolio positioned within two of North America’s premier uranium jurisdictions. The company maintains 153,838 hectares across Saskatchewan’s Athabasca Basin—long recognized as a high-grade uranium region—alongside 95,519 hectares in Nunavut’s Thelon Basin, establishing a considerable ground position for future discoveries.

The flagship Aberdeen Project in Nunavut showcases the strategic value underlying this consolidation. The Tatiggaq discovery features high-grade mineralization including intercepts grading 2.25% U₃O₈ over 11.1 metres, with multiple steeply dipping mineralized lenses encountered between 80 and 180-metre depths. Notably, drilling has tested only 500 metres of a 1,500-metre anomaly, indicating substantial upside potential.

Complementing Tatiggaq, the Qavvik prospect demonstrates similar basement-hosted characteristics across a 100 x 100 metre area extending from surface to 400-metre depths. Both discoveries require expanded drilling programs to fully define mineralization extents. Beyond these primary targets, Aberdeen hosts more than 50 additional exploration prospects exhibiting strong alteration signatures and anomalous geochemistry, many remaining untested or having received only limited historical investigation.

Shareholder Voting Framework

The Supreme Court of British Columbia issued an interim order on July 18, 2025, authorizing the special meeting structure and establishing procedural requirements. The shareholder information circular contains comprehensive details on arrangement mechanics, transaction rationale, effectiveness requirements, consideration procedures, and meeting protocols.

Registered shareholders can participate through multiple voting channels. Internet voting operates via www.investorvote.com using control numbers from proxy materials. Telephone options include 1-866-732-VOTE (8683) for North American callers or 312-588-4290 for international participants. Facsimile submissions route to 1-866-249-7775 (North America) or 416-263-9524 (international). Traditional mail submissions direct to Computershare’s Toronto address at 320 Bay Street, 14th Floor, Toronto, ON M5H 4A6.

Beneficial shareholders holding Forum shares through intermediaries receive distinct voting instructions and should follow procedures specified on their voting instruction forms included with the mailing.

Board Endorsement and Next Steps

Forum’s Board of Directors unanimously recommends shareholder approval of the arrangement. The transaction’s completion remains conditional upon required shareholder approval, court confirmation, and TSX-V regulatory clearance. The arrangement agreement specifies additional closing conditions governing final transaction execution.

Shareholders requiring supplementary copies of the information circular or seeking clarification on voting procedures and document completion should contact their brokers or reach Forum directly at info@forumenergymetals.com. The forum for stakeholder dialogue remains open as the company advances this transformative consolidation within the uranium sector’s future landscape.

About Forum Energy Metals Corp.

Forum Energy Metals maintains a laser focus on discovering high-grade, unconformity-related uranium deposits within Canada’s most prolific uranium basins. Operating across Saskatchewan and Nunavut, the company leverages its substantial landholdings and technical expertise to advance a pipeline of world-class exploration opportunities.

Rebecca Hunter, PhD. P. Geo., President, CEO & Director, holds responsibility for technical information accuracy as the designated Qualified Person under National Instrument 43-101.

Contact Information Rebecca Hunter, President, CEO & Director info@forumenergymetals.com Tel: 604-630-1585