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Alacer Gold Corp Announces Sale Of Australian Business Unit To Metals X Ltd's Subsidiary

Monday, 23 Sep 2013 07:55am EDT 

Alacer Gold Corp. (Alacer) announced that it has entered into a binding agreement to sell its Australian Business Unit (which includes the Higginsville and South Kalgoorlie Operations) to a subsidiary of Metals X Limited (Metals X), an Australian public company with shares listed on the ASX. Under the terms of the share sale agreement, Alacer will be paid AUD40 million in cash (subject to working capital adjustments) at completion for all of the shares of Alacer Gold Pty Ltd ("Alacer Australia"), its wholly-owned subsidiary. Completion of the sale is conditional on and will occur within five business days following receipt of Australian Foreign Investment Review Board (FIRB) approval by Metals X. 

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0.05 +1.75%
11 Jul 2014