Vista Announces Status of Proposed Arrangement
23 Dezember 2006 - 2:39AM
PR Newswire (US)
DENVER, Dec. 22 /PRNewswire-FirstCall/ -- Vista Gold Corp. (Amex:
VGZ; TSX) ("Vista") announced today that the closing of the
proposed arrangement is now expected to occur in the first quarter
of 2007. As previously announced, the Supreme Court of the Yukon
Territory 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. Among the conditions is the registration of Allied Nevada's
common stock under the U.S. Securities Exchange Act of 1934. To
this end, Allied Nevada filed a registration statement on Form 10
with the U.S. Securities and Exchange Commission and is currently
responding to the Commission's comments on the Form 10 registration
statement. The registration will not be complete until the comment
process has concluded, which Vista currently anticipates will occur
during the first quarter of 2007, with the transaction expected to
close shortly thereafter. About Vista Gold Corp. 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. 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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