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Alkane and Mandalay Propose Combination to Create Growing Gold and Antimony Producer

April 28, 2025
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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).

Read the transaction press release.

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For informational purposes only

This publication provides an overview of legal trends and updates for informational purposes only. For personalized legal advice, please contact the authors.