Client Work

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

April 28, 2025
Authors
James ClarePartner
Christopher J. DoucetPartner
Benjamin J. GalAssociate
Kaitlyn (Katie) ClementAssociate
James D. BeebyPartner
Philip B. WardPartner

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.

Authors

James Clare, Partner
Toronto  •   416.777.6245  •   clarej@bennettjones.com
Christopher J. Doucet, Partner
Toronto  •   416.777.7449  •   doucetc@bennettjones.com
Benjamin J. Gal, Associate
Toronto  •   416.777.7923  •   galb@bennettjones.com
Kaitlyn (Katie) Clement, Associate
Toronto  •   416.777.7843  •   clementk@bennettjones.com
James D. Beeby, Partner  •   Co-Head of Corporate Department
Vancouver  •   604.891.5326  •   beebyj@bennettjones.com
Philip B. Ward, Partner
Toronto  •   416.777.7476  •   wardp@bennettjones.com