Alacer Gold Corp Announces Frog Leg Sale Receives Approval

Alacer Gold Corp. (TSX:ASR) announced that sale their 49% minority interest in 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 has been approved by the Australian Foreign Investment Review Board.

As quoted in the press release:

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.

Alacer’s President and CEO,  David Quinlivan, said:

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.

To view the whole press release, click here.