Alacer Gold announces amendments to draft By-Law No.2

May 07, 2012, 08:00 ET from ALACER GOLD CORP.

TORONTO, May 7, 2012 /CNW/ - Alacer Gold Corp ("Alacer" or the "Corporation") [TSX: ASR and ASX: AQG] today announced that upon review and discussion with ISS Proxy Advisory Services ("ISS"), the Corporation has agreed to amend its current draft By-Law # 2 as attached to the management information circular of the Corporation dated April 18, 2012 by:

  • Setting the quorum requirement for shareholder meetings to at least two persons collectively holding 25 percent of the shares entitled to vote; and
  • Setting the quorum requirement for board meetings to at least 50 percent of the number of directors.

The amendments will be put before shareholders of the Corporation at the annual and special meeting of shareholders to be held on May 23, 2012.

About Alacer

Alacer 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.