Alacer Gold Corp. is formed after closing of merger of equals between Anatolia Minerals Development Limited and Avoca Resources Limited

Date Closed: 2/18/2011

Value: C$2.49 billion 

On February 18, 2011, Anatolia Minerals Development Limited (Anatolia) and Avoca Resources Limited (Avoca) completed a merger of equals (the Merger) by which Anatolia, through a wholly-owned Australian subsidiary acquired all of the issued and outstanding ordinary shares and options of Avoca, resulting in the creation of Alacer Gold Corp. (Alacer Gold) a new leading intermediate global gold producer with a market capitalization at the close of trading on February 18, 2011 of approximately $2.49 billion.

Under the terms of the Merger, which was a scheme of arrangement under Australian law between Avoca and its shareholders, each Avoca shareholder received 0.4453 Anatolia common shares for each Avoca ordinary share they held. Certain Avoca shareholders elected to receive Anatolia common shares as consideration while others received consideration shares in the form of CHESS depositary interests (CDIs). Following the completion of the Merger, existing Anatolia and Avoca shareholders owned approximately 50% and 50% of Alacer Gold, respectively. The Alacer Gold common shares are listed on the TSX under the symbol “ASR” and the Alacer Gold CDIs are listed on the ASX under the “AQG”.

Avoca is an Australian based gold producer that holds a highly attractive portfolio of large, long-life operating gold mines in Western Australia. Anatolia is a Canadian based mining company exclusively engaged in the exploration and development of mineral properties in Turkey, with the Çöpler Gold Project in the eastern part of central Turkey being its material property. 

BLG acted as Canadian counsel for Avoca with a team comprising Fred Pletcher and Samir Patel.