Mandalay Obtains Final Order Approving Arrangement with Alkane

Core Viewpoint - Mandalay Resources Corporation has received final court approval for its arrangement with Alkane Resources Limited, which will result in Alkane acquiring all outstanding shares of Mandalay [1][2]. Group 1: Arrangement Details - The Supreme Court of British Columbia has issued a final order approving the plan of arrangement under the Business Corporations Act, allowing Alkane to acquire all issued and outstanding common shares of Mandalay [1]. - Under the arrangement, Mandalay shareholders will receive 7.875 fully paid ordinary shares of Alkane for each Mandalay share held [1]. - The arrangement is expected to close on August 5, 2025, following the receipt of the final order, which was the last substantive condition for closing [2]. Group 2: Company Overview - Mandalay Resources is a Canadian-based natural resource company with producing assets in Australia (Costerfield gold-antimony mine) and Sweden (Björkdal gold mine) [3]. - The company focuses on increasing production and reducing costs to generate significant positive cash flow while committing to safe and environmentally responsible operations [3].