Alkane and mandalay announce closing of merger

Perth, australia and toronto, aug. 05, 2025 (globe newswire) -- alkane resources limited (asx: alk) (“alkane”) and mandalay resources corporation (“mandalay”) (tsx: mnd, otcqb: mndjf) are pleased to announce the successful closing of their merger. the transaction was effected by way of a statutory plan of arrangement under the business corporations act (british columbia) (the “arrangement”), whereby alkane acquired all of the issued and outstanding common shares of mandalay (the “mandalay shares”). under the terms of the arrangement, mandalay shareholders are entitled to receive 7.875 fully paid ordinary shares of alkane (the “alkane shares”) for each mandalay share held. the combined company will continue operating as “alkane resources limited” and will remain listed on the asx and headquartered in perth.
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