Vista Gold Corp. Announces Closing of US$30 Million Brokered Private Placement
07 März 2008 - 9:27PM
PR Newswire (US)
DENVER, March 7 /PRNewswire-FirstCall/ -- Vista Gold Corp. ("Vista"
or the "Corporation") (Amex: VGZ; TSX: VGZ.) announced today the
closing of a brokered private placement of senior secured
convertible notes (the "Notes") of the Corporation. Gross proceeds
to the Corporation were US$30 million. For a description of the
Notes, we refer you to our press release dated February 12, 2008.
As compensation to the agent (the "Agent") in respect of the
offering of the Notes, the Corporation has paid to the Agent a cash
fee of US$1.2 million, being 4% of the gross proceeds of the
offering, and has issued to the Agent 200,000 common share purchase
warrants, being 4% of number of common shares issuable upon the
conversion of the Notes sold in the offering, assuming a conversion
price of US$6.00. Each such Agent's warrant will be exercisable for
one common share for US$6.00 per share until three years following
the date of issuance. The Corporation will use the net proceeds of
the offering of the Notes to finance the previously announced
purchase of gold processing equipment to be used at the Paredones
Amarillos gold project and to fund ongoing operations at the
Paredones Amarillos gold project. The above-described securities
have not been registered under the Securities Act of 1933 or any
state securities laws, and may not be offered or sold in the United
States absent registration or applicable exemption from
registration requirements. 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 and
forward-looking information within the meaning of Canadian
securities laws. 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 Vista's plans for financing the Paredones Amarillos Project
including the nature and timing of financing; plans for
construction and development activities at the Paredones Amarillos
Project; and other such matters are forward-looking statements and
forward-looking information. When used in this press release, the
words "will", "estimate", "plan", "anticipate", "expect", "intend",
"believe" and similar expressions are intended to identify
forward-looking statements and forward-looking information. These
statements involve known and unknown risks, uncertainties and other
factors which may cause the actual results, performance or
achievements of Vista to be materially different from any future
results, performance or achievements expressed or implied by such
statements. Such factors include, among others, risks relating to
delays in commencement and completion of construction at the
Paredones Amarillos Project; risks of shortages of equipment or
supplies; risks that Vista'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 operations of
environmental regulations in the countries in which it operates;
risks due to legal proceedings; risks relating to political and
economic instability in certain countries in which it operates; and
uncertainty of being able to raise capital on favorable terms or at
all; 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
and Canadian securities commissions. Although Vista has attempted
to identify important factors that could cause actual results to
differ materially from those described in forward-looking
statements and forward-looking information, 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. Except as
required by law, Vista assumes no obligation to publicly update any
forward-looking statements or forward-looking information, whether
as a result of new information, future events or otherwise. For
further information, please contact Connie Martinez at (720)
981-1185, or visit the Vista Gold Corp. website at
http://www.vistagold.com/ DATASOURCE: Vista Gold Corp. CONTACT:
Connie Martinez of Vista Gold Corp, +1-720-981-1185 Web site:
http://www.vistagold.com/
Copyright