Vista Gold Corp. Announces Common Stock Offering
08 September 2009 - 10:14PM
PR Newswire (US)
DENVER, Sept. 8 /PRNewswire-FirstCall/ -- Vista Gold Corp ("Vista"
or the "Company") (TSX & NYSE Amex: VGZ) is pleased to announce
that it intends to offer 8 million shares of its common stock
pursuant to the Company's shelf registration statement filed with
the U.S. Securities and Exchange Commission (the "SEC") and a
prospectus supplement to its base shelf prospectus filed with
certain Canadian securities regulatory authorities. The Company
intends to grant the underwriters a 30-day option to purchase up to
1.2 million additional shares of common stock to cover
over-allotments, if any. Vista intends to use the net proceeds from
this offering (i) to fund drilling, exploration, and
technical/engineering activities (including the preparation of a
feasibility study) on its Mt. Todd gold project, (ii) to fund the
engineering, design and other technical activities to advance its
Paredones Amarillos gold project, (iii) to fund exploration
activities and if warranted, drilling programs at its Guadalupe de
los Reyes gold project and (iv) to fund acquisitions, and further
development of acquired mineral properties, working capital
requirements and/or for other general corporate purposes. Dahlman
Rose & Company, LLC and Wellington West Capital Markets Inc.
are acting as joint book-runners for the offering. The offering is
being made by way of a registration statement, which has been
declared effective by the SEC, a base shelf prospectus and a
prospectus supplement each of which has been filed with the SEC and
each of the Provincial securities regulatory authorities in Canada,
other than Quebec. A copy of the preliminary prospectus supplement
incorporating the base shelf prospectus relating to the offering
may be obtained by either contacting the underwriters, by accessing
the SEC website, http://www.sec.gov/, or by accessing the website
maintained by the Canadian securities regulatory authorities,
SEDAR, at http://www.sedar.com/. In the United States from: Dahlman
Rose & Company, LLC Attn: Prospectus Dept. 142 West 57th Street
18th Floor New York, NY 10019 Phone: 212-702-4521 Fax: 212-920-2952
Email: In Canada from: Wellington West Capital Markets Inc. Attn:
Scott Larin 145 King Street West, Suite 700 Phone: 416-640-4893
Fax: 416-640-4946 Email: This news release shall not constitute an
offer to sell or the solicitation of an offer to buy, nor shall
there be any sale of these securities in any state or jurisdiction
in which the offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction. The securities being offered have not been
approved or disapproved by any regulatory authority, nor has any
such authority passed upon the accuracy or adequacy of the
prospectus supplement, the prospectus or the Company's shelf
registration statement. A registration statement relating to the
securities has been filed with the SEC and became effective April
30, 2009. A preliminary prospectus supplement relating to the
offering has been filed with the SEC. A shelf prospectus has been
filed with the securities regulatory authorities in certain
provinces in Canada and a preliminary prospectus supplement was
filed with such regulatory authorities. About Vista Gold Corp.
Since 2001, Vista has acquired a number of gold projects with the
expectation that higher gold prices would increase their value.
Vista has taken steps to advance the Paredones Amarillos gold
project located in Baja California Sur, Mexico, towards production.
These steps include the completion of a definitive feasibility
study, the purchase of long delivery processing equipment items,
and the purchase of land for the processing facilities, related
infrastructure and the desalination plant. The results of a
preliminary economic assessment completed in 2009 on the Mt. Todd
gold project in Australia are encouraging and Vista is undertaking
other studies to advance the project, with the completion of a
preliminary feasibility study targeted for the fourth quarter of
2009. Vista's other holdings include the Guadalupe de los Reyes
gold project in Mexico, Yellow Pine gold project in Idaho, Awak Mas
gold project in Indonesia, and the Long Valley gold project in
California. For further information, please contact: Vista Gold
Corp. Attn: Greg Marlier 7961 Shaffer Parkway, Suite 5 Littleton,
Colorado 80127 Phone: 720-981-1185 Fax: 720-981-1186 Email: This
press release contains forward-looking statements within the
meaning of the U.S. Securities Act of 1933, as amended, and U.S.
Securities Exchange Act of 1934, as amended, 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 the size of the announced offering, the
number of common shares to be issued, and the anticipated use of
proceeds. When used in this press release, the words "optimistic",
"potential", "indicate", "expect", "intend", "hopes," "believe,"
"may," "will," "if" 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,
uncertainty of market response to the offering, the pricing of the
offering, the future use of proceeds, risks relating to cost
increases for capital and operating costs including cost of power;
risks relating to delays at Vista's projects; risks of shortages of
equipment or supplies; risks relating to fluctuations in the price
of gold; the inherently hazardous nature of mining-related
activities; uncertainties concerning 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; risks related to repayment of debt;
risks related to increased leverage 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. 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.
DATASOURCE: Vista Gold Corp. CONTACT: Greg Marlier of Vista Gold
Corp., +1-720-981-1185, fax, +1-720-981-1186, Web Site:
http://www.vistagold.com/
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