Vista Gold Corp. Announces Rescheduling of Court Hearing to Approve Arrangement
21 November 2006 - 1:59AM
PR Newswire (US)
DENVER, Nov. 20 /PRNewswire-FirstCall/ -- Vista Gold Corp. (Amex:
VGZ; TSX) announced today its application to the Supreme Court of
the Yukon Territory to approve the proposed arrangement which, if
completed, will result in Vista transferring its existing Nevada
properties into a recently incorporated company, Allied Nevada Gold
Corp., which will concurrently acquire the Nevada mineral assets of
Carl and Janet Pescio, has been rescheduled from today to
Wednesday, November 29, 2006. Completion of the arrangement remains
subject to a number of conditions, including approval of the
Supreme Court of the Yukon Territory. Vista currently expects the
transaction to close in December 2006. Vista will provide further
updates on the expected timing of the proposed arrangement in the
near future. Vista Gold Corp., based in Littleton, Colorado,
evaluates and acquires gold projects with defined gold resources.
Additional exploration and technical studies are undertaken to
maximize the value of the projects for eventual development. The
Company's holdings include the Maverick Springs, Mountain View,
Hasbrouck, Three Hills, Wildcat projects, the F.W. Lewis, Inc.
properties and the Hycroft mine, all in Nevada, the Long Valley
project in California, the Yellow Pine project in Idaho, the
Paredones Amarillos and Guadalupe de los Reyes projects in Mexico,
the Mt. Todd project in Australia, the Amayapampa project in
Bolivia and the Awak Mas project in Indonesia. This press release
contains forward-looking statements within the meaning of the U.S.
Securities Act of 1933 and U.S. Securities Exchange Act of 1934.
All statements, other than statements of historical facts, included
in this press release that address activities, events or
developments that Vista expects or anticipates will or may occur in
the future, including such things as future business strategy,
competitive strengths, goals, expansion and growth of Vista's or
Allied Nevada's businesses, operations, plans and other such
matters are forward-looking statements. When used in this press
release, the words "estimate", "plan", "anticipate", "expect",
"intend", "believe" and similar expressions are intended to
identify forward-looking statements. The statements made in this
press release about the anticipated impact the contemplated
transaction described herein may have on the operations of Vista or
Allied Nevada, as well as the benefits expected to result from the
contemplated transaction, are forward-looking statements. These
statements involve known and unknown risks, uncertainties and other
factors which may cause the actual results, performance or
achievements of Vista and Allied Nevada, including anticipated
consequences of the contemplated transaction described herein, to
be materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements. Such factors include, among others, risks that Vista's
or Allied Nevada's acquisition, exploration and property
advancement efforts will not be successful; risks relating to
fluctuations in the price of gold; the inherently hazardous nature
of mining-related activities; uncertainties concerning reserve and
resource estimates; potential effects on Vista's or Allied Nevada's
operations of environmental regulations in the countries in which
they operate; risks due to legal proceedings; uncertainty of being
able to raise capital on favorable terms or at all; and risks that
may affect Vista's ability to complete the contemplated transaction
described herein including risks that Vista may be unable to obtain
required securityholder, court of third party approvals; as well as
those factors discussed in Vista's latest Annual Report on Form
10-K and Quarterly Report on Form 10-Q and other documents filed
with the U.S. Securities and Exchange Commission. Although Vista
has attempted to identify important factors that could cause actual
results to differ materially from those described in
forward-looking statements, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that such statements will prove to be accurate as
actual results and future events could differ materially from those
anticipated in such statements. Vista assumes no obligation to
publicly update any forward-looking statements, whether as a result
of new information, future events or otherwise. For further
information, please contact Greg Marlier at (720) 981-1185, or
visit the Vista Gold Corp. website at http://www.vistagold.com/
DATASOURCE: Vista Gold Corp. CONTACT: Greg Marlier of Vista Gold
Corp., +1-720-981-1185 Web site: http://www.vistagold.com/
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