Vista Gold Corp. Announces Closing of Offering of Common Shares
20 April 2011 - 4:36PM
PR Newswire (Canada)
DENVER, April 20, 2011 /CNW/ -- Vista Gold Corp. (TSX & NYSE
Amex Equities: VGZ) ("Vista" or the "Company") is pleased to
announce that it has closed its previously announced offering of
9,000,000 common shares of Vista ("Common Shares") 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
Offering was completed on a bought deal basis with GMP Securities
L.P. and Wellington West Capital Markets Inc. as underwriters (the
"Underwriters"). The Common Shares were sold in Canada 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 were sold 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
27, 2009. As part of the Offering, Vista granted the Underwriters
an over-allotment option to purchase up to an additional 1,350,000
Common Shares at the Issue Price. The over-allotment option remains
exercisable at any time up to May 20, 2011. As compensation to the
Underwriters in connection with the Offering, Vista paid to the
Underwriters a cash commission of C$1,485,000 and granted the
Underwriters 450,000 compensation options (the "Compensation
Options"). Each Compensation Option is exercisable until April 20,
2013 to purchase one Common Share at the Issue Price. 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
administration purposes of the Company. Vista has filed a
prospectus supplement to its base shelf prospectus with the
Canadian securities regulatory authorities in each of the provinces
and territories of Canada, except Quebec, and a prospectus
supplement to its base prospectus in its shelf registration
statement with the SEC. You may obtain a copy of the prospectus
supplement and the accompanying base shelf prospectus filed 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
prospectus supplement and the accompanying base 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-silver project in Mexico,
the Awak Mas gold project in Indonesia, and the Long Valley gold
project in California. 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 intended use of the net proceeds of the Offering and other
such matters are forward-looking statements and forward-looking
information. When used in this press release, the words
"optimistic," "potential," "indicate," "expect," "intend," "hopes,"
"believe," "may," "will,", "could", "if," "anticipate," 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 resource estimates, estimates
of results based on such resource estimates; risks relating to cost
increases for capital and operating costs; risks relating to delays
in the completion of the drilling program, risks related to the
adequacy of the design of the drilling program, risks related to
the ability to obtain the necessary permits, risks of shortages and
fluctuating costs of equipment or supplies; risks relating to
fluctuations in the price of gold; the inherently hazardous nature
of mining-related activities; 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; 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 U.S. Securities and
Exchange Commission 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. For
further information, please contact Connie Martinez at (720)
981-1185. Web Site: http://www.vistagold.com
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