Alacer Gold announces approval of Frog’s Leg sale

Friday, Mar 29, 2020

TORONTO, March 28, 2020 /CNW/ – Alacer Gold Corp. (“Alacer”) [TSX: ASR and ASX: AQG] is pleased to announce that the Australian Foreign Investment Review Board has approved the sale of Alacer’s 49% minority interest in the Frog’s Leg Mine joint venture, its 24.5% interest in the Lake Greta joint venture, and its 40% interest in the Avoca joint venture to La Mancha Resources Australia Pty Limited.

The transaction is expected to close on April 5, 2020.  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.

Mr. 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.”

About Alacer

Alacer Gold Corp. is a leading intermediate gold mining company with interests in multiple mines which provide ore to three processing facilities in Australia and Turkey.

Alacer’s primary focus is to maximize portfolio value, maximize free cash flow, minimize project risk, and return value to shareholders.  Alacer has a strong balance sheet and is committed to responsibly developing its current operations and focused exploration programs creating value.

SOURCE ALACER GOLD CORP.