Alkane Resources (ASX:ALK) said that Mandalay Resources and the firm will hold their respective meetings of shareholders on July 28, seeking shareholder approvals for a scheme of arrangement under which Alkane will indirectly acquire all of the issued and outstanding common shares of Mandalay, according to a Thursday Australian bourse filing.
Alkane will seek approval of the issue of the Alkane consideration shares to Mandalay shareholders under the terms of the arrangement.
The transaction is also subject to approval by the Foreign Investment Review Board, final approval of the Supreme Court of British Columbia, and satisfaction or waiver of other customary closing conditions. The deal is expected to be completed in early August.
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