Vista Announces Final Court Approval of Proposed Arrangement
30 November 2006 - 12:49AM
PR Newswire (US)
DENVER, Nov. 29 /PRNewswire-FirstCall/ -- Vista Gold Corp. (Amex:
VGZ; TSX) ("Vista") announced today that the Supreme Court of the
Yukon Territory has granted its final order approving the plan of
arrangement that, if completed, will result in Vista transferring
its existing Nevada properties into a recently incorporated
company, Allied Nevada Gold Corp. ("Allied Nevada"), which will
concurrently acquire the Nevada mineral assets of Carl and Janet
Pescio. The closing of the transaction is subject to the
satisfaction or waiver of a number of conditions customary in a
transaction of this nature. The arrangement is expected to close in
December 2006. Vista, 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. Vista'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 Amayapampa project
in Bolivia, the Awak Mas project in Indonesia, and the Mt. Todd
project in Australia. Forward-Looking Statements 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. 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 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 Gregory G. Marlier at (720)
981-1185, or visit the Vista Gold Corp. website at
http://www.vistagold.com/ DATASOURCE: Vista Gold Corp. CONTACT:
Gregory G. Marlier of Vista Gold Corp., +1-720-981-1185 Web site:
http://www.vistagold.com/
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