Vista Gold Corp. Announces Closing of Common Share Offering
21 September 2009 - 3:19PM
PR Newswire (US)
DENVER, Sept. 21 /PRNewswire-FirstCall/ -- Vista Gold Corp.
("Vista" or the "Company") (TSX & NYSE Amex: VGZ) is pleased to
announce the closing of its previously announced public offering of
common shares pursuant to the Company's shelf registration
statement filed with the U.S. Securities and Exchange Commission
(the "SEC") and a shelf prospectus filed with certain Canadian
securities regulatory authorities. The Company sold 8.8 million
common shares at a price of US$2.25 per common share. The Company
has granted the underwriters a 30-day option to purchase up to 1.32
million additional common shares to cover over-allotments, if any.
Proceeds to the Company from the offering, net of commissions, fees
and expenses, were approximately US$17.6 million (assuming the
underwriters' over-allotment option is not exercised). 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. acted as joint book-runners
for the offering. The offering was made by way of a registration
statement, which has been declared effective by the SEC, a base
shelf prospectus and a final prospectus supplement each of which
has been filed with the SEC and each of the Canadian provinces of
British Columbia, Alberta, Manitoba, Ontario and Newfoundland and
Labrador. A copy of the final 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 Toronto, Ontario M5H
1J8 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 final prospectus supplement, the base
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 final
prospectus supplement relating to the offering has been filed with
the SEC. A base shelf prospectus has been filed with the securities
regulatory authorities in certain provinces in Canada and a final
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 statements
as to the 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 net proceeds
from 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: Vista Gold Corp., Attn: Greg Marlier,
+1-720-981-1185, Fax, +1-720-981-1186, Web Site:
http://www.vistagold.com/
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