TORONTO, May 2, 2012 /CNW/ - Alacer Gold Corp. ("Alacer" or the "Company") [TSX: ASR and ASX: AQG] announced the outcomes flowing from the maturity of the Company's C$100 million convertible debentures (the "Debentures") [TSX: ASR.DB] on April 30, 2012.
The Debentures were convertible, at the option of the holder, at any time prior to maturity into common shares of the Corporation at a price of C$8.00 per common share.
Debentures representing a total of C$53,566,000 were presented for conversion into common shares prior to maturity and accordingly a total of 6,695,750 shares will be issued to these holders. The remaining holders of Debentures will receive cash payments totaling C$46,434,000 plus a final interest payment of C$1,103,000.
Following conversion of the Debentures, Alacer will have a total of 287,208,437 shares issued and outstanding and a total of 291,154,143 shares issued and outstanding on a fully diluted basis.
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:
- 80% interest in the Çöpler Gold Mine;
- 100% interest in the Higginsville Gold Operations;
- 100% interest in the South Kalgoorlie Gold Operations; and
- 49% interest in the Frog's Leg Gold Mine.
Alacer's operations produced a total of 421,204 ounces of gold during 2011.
Alacer is pursuing a rapid growth strategy. The primary focus is organic growth from current operations and the Company's extensive gold and copper exploration properties in Australia and Turkey.
For further information on Alacer, please contact:
Edward Dowling or Lisa Maestas - North America at +1-303-292-1299
Roger Howe - Australia at +61-405-419-139