Mandalay Resources Secures Swedish Approval for Merger

Mandalay Resources Corporation, a Canadian natural resources company, has announced receiving the Swedish government’s approval for its proposed merger with Alkane Resources Limited. This agreement, under the Business Corporations Act of British Columbia, enables Alkane to indirectly acquire all issued and outstanding Mandalay shares. The approval from Sweden’s Inspectorate of Strategic Products ensures no further action or review on the transaction under the Swedish Law on the Examination of Foreign Direct Investments, allowing the deal to proceed. However, the merger still requires the approval of the Supreme Court of British Columbia, Mandalay and Alkane shareholders, and the fulfillment of other conditions. Meetings for shareholder approvals are expected by the end of July 2025. Mandalay Resources operates in Australia and Sweden with commitments to environmentally responsible practices and its merger is part of strategic growth and cost reduction efforts.