Mandalay Announces Receipt of Swedish Regulatory Approval for Proposed Merger of Equals

Core Viewpoint - Mandalay Resources Corporation has received regulatory approval in Sweden for its planned arrangement with Alkane Resources Limited, allowing the transaction to proceed under Swedish law [1][2]. Group 1: Transaction Details - The transaction involves Alkane Resources Limited agreeing to indirectly acquire all issued and outstanding common shares of Mandalay [1]. - The approval from the Swedish Inspectorate of Strategic Products indicates no further action will be taken regarding the Foreign Direct Investment (FDI) filing, facilitating the transaction [2]. - The transaction is still subject to approval from the Supreme Court of British Columbia, other regulatory approvals, and the approval of shareholders from both Mandalay and Alkane, with meetings expected in late July 2025 [3]. Group 2: Company Overview - Mandalay Resources is a Canadian-based natural resource company with producing assets in Australia and Sweden, focusing on gold and antimony mining [4]. - The company aims to grow production and reduce costs to generate significant positive cash flow while maintaining safe and environmentally responsible operations [4].