Alacer Gold receives Australian OK for Frog's Leg sale
Ticker Symbol: C:ASR
Alacer Gold receives Australian OK for Frog's Leg sale
Alacer Gold Corp (C:ASR)
Shares Issued 286,874,771
Last Close 3/27/2013 $4.16
Thursday March 28 2013 - News Release
Mr. David Quinlivan reports
ALACER GOLD ANNOUNCES APPROVAL OF FROG'S LEG SALE
Alacer Gold Corp. has received approval from the Australian Foreign Investment Review Board for the sale of Alacer's 49-per-cent minority interest in the Frog's Leg mine joint venture, its 24.5-per-cent interest in the Lake Greta joint venture and its 40-per-cent interest in the Avoca joint venture to La Mancha Resources Australia Pty. Ltd.
The transaction is expected to close on April 5, 2013. After closing, Alacer's board of directors will approve the related special dividend of approximately $70-million and a record date for determining Alacer's shareholders will be set. Additional details regarding the special dividend will be released to the market once final.
David Quinlivan, president and chief executive officer of Alacer, stated, "The impending closing of the Frog's Leg sale and finalizing the special dividend demonstrates Alacer's commitment to maximizing portfolio value and returning value to shareholders."
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