Alkane Resources Limited and Mandalay Resources Corporation have announced that they have agreed to combine in a proposed “merger of equals” transaction and have executed a definitive arrangement agreement whereby Alkane will acquire all the issued and outstanding common shares of Mandalay pursuant to a court-approved plan of arrangement. Following completion of the transaction, the combined company will continue operating as “Alkane Resources”, remain listed on the ASX and is seeking a listing on the TSX exchange. The implied market capitalization of the combined company is estimated at C$898 million.
Bennett Jones is acting as Canadian legal advisor to Alkane.
The Bennett Jones team is led by James Clare and Christopher Doucet (M&A) and includes Benjamin Gal, Kaitlyn Clement, James Beeby (M&A) and Phil Ward (Tax).
Bennett Jones