Vista Gold Corp. Announces C$29,700,000 Bought Deal Offering
12 April 2011 - 2:37PM
Marketwired
Vista Gold Corp. ("Vista" or the "Company") (TSX: VGZ)(NYSE Amex:
VGZ) is pleased to announce that it has entered into an agreement
with a syndicate of underwriters co-led by GMP Securities L.P. and
Wellington West Capital Markets Inc. (the "Underwriters"), pursuant
to which the Underwriters have agreed to purchase, on a bought deal
basis, 9,000,000 common shares (the "Common Shares") of the Company
at a price of C$3.30 per Common Share (the "Issue Price") for
aggregate gross proceeds to the Company of C$29,700,000 (the
"Offering"). The Common Shares are to be sold by way of a
prospectus supplement to Vista's existing base shelf prospectus
dated April 27, 2009 and filed with the securities commissions in
all of the provinces and territories of Canada (other than the
Province of Quebec) and in the United States by way of a prospectus
supplement to the Company's base shelf prospectus included in the
Company's shelf registration statement filed with the U.S.
Securities and Exchange Commission (the "SEC") on April 28, 2009.
The Common Shares will also be offered on a private placement basis
in certain jurisdictions outside of Canada and the United States
pursuant to applicable prospectus exemptions.
The Company will grant the Underwriters an over-allotment option
to purchase additional Common Shares in an amount equal to up to
15% of the number of Common Shares sold pursuant to the Offering at
the Issue Price, exercisable at any time up to 30 days from the
closing of the Offering.
The Company intends to use the net proceeds of the Offering as
follows: (i) advancement of the Mt. Todd Project; (ii) exploration
at the Guadalupe de los Reyes gold-silver project; (iii) permitting
process at the Concordia gold project and (iv) general corporate
and working capital purposes of the Company.
Closing of the Offering is expected to occur on or about April
20, 2011 and is subject to receipt of all necessary regulatory
approvals, including the approval of the Toronto Stock Exchange and
the NYSE Amex Equities.
Vista has filed a base shelf prospectus with the Canadian
securities regulatory authorities in each of the provinces and
territories of Canada, except Quebec, and a shelf registration
statement with the SEC which will serve as the base for the
Offering in the United States to which this communication relates.
Before you invest, you should read the base shelf prospectus
including any prospectus supplement and any other documents the
Company has filed with the securities commissions in each of the
provinces and territories of Canada, except Quebec, and the SEC for
complete information about the Company and the Offering. You may
obtain a copy of the base shelf prospectus in Canada from GMP
Securities L.P. (fax (416) 943-6134 or request a copy by telephone
at (416) 943-6130). You may obtain a copy of the shelf registration
statement and prospectus filed in the United States from Griffiths
McBurney Corp. c/o GMP Securities L.P. Attn: Equity Capital
Markets, 145 King St. W., Suite 300, Toronto, Ontario, M5H 1J8,
Canada, email your request to ecm@gmponline.com or fax your request
to 416-943-6134.
About Vista Gold Corp.
Vista is focused on the development of the Mt. Todd gold project
in Northern Territory, Australia, and the Concordia gold project in
Baja California Sur, Mexico, to achieve its goal of becoming a gold
producer. Vista's other holdings include the Guadalupe de los Reyes
gold project in Mexico, the Awak Mas gold project in Indonesia, and
the Long Valley gold project in California.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor will there be any sale of
these securities, in any jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such
jurisdiction.
Forward-Looking Statements
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 timing for effectiveness of the registration statement, and
other such matters are forward-looking statements and
forward-looking information. When used in this press release, the
words "expect", "intend", "anticipate", "will" 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, factors affecting the timing and
effectiveness of the registration statement as well as those
factors discussed under the headings "Note Regarding
Forward-Looking Statements" and "Risk Factors" in Vista's latest
Annual Report on Form 10-K as filed on March 14, 2011, and other
documents filed with the SEC and Canadian securities regulatory
authorities. 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.
The Toronto Stock Exchange and the NYSE Amex Equities have not
reviewed and do not accept responsibility for the accuracy or
adequacy of this press release, which has been prepared by
management.
Contacts: Vista Gold Corp. Connie Martinez (720) 981-1185
Vista Gold (AMEX:VGZ)
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