said May 2 thatits security holders have approved the previously announced business combinationwith Anfield Nickel Corp.
As announcedin February, the merger will be undertaken by way of a plan of arrangement, under which Magellan shareholders willreceive 0.0863 share of Anfield for each Magellan share held.
According toMagellan, 68.28% of its outstanding securities were represented during the April28 special meeting and 99.82% of the securities represented voted in favor of thetransaction.
Magellan plansto seek final court approval for the arrangement on May 3 and, subject to the satisfactionof certain customary closing conditions, the transaction is expected to be completedon or about May 6. Upon completion, Anfield will have about 64.2 millionshares on a fully diluted basis and the resulting company will be owned about 69.4%by Anfield's existing shareholders and 30.6% by Magellan's existing shareholders.