DENVER, May 5, 2011 /PRNewswire/ -- Vista Gold Corp.
("Vista" or the "Company") (NYSE Amex and TSX: VGZ) is pleased to
announce that on May 5, 2011, the
Company's resale registration statement on Form S-3, initially
filed with the United States Securities and Exchange Commission
("SEC") on March 15, 2011, was
declared effective. The registration statement registers for
resale common shares, warrants and common shares acquirable upon
the exercise of warrants (collectively, the "securities") held by
certain securityholders named in the prospectus contained in the
registration statement. The selling securityholders are under
no obligation to sell the securities. The registration
statement also registers the issuance by the Company of common
shares underlying the warrants by holders that purchase the
warrants pursuant to the resale registration statement. The
Company will not receive any proceeds from the resale of the
securities, other than proceeds relating to the exercise of
warrants, if those warrants are exercised.
Vista agreed to file the resale registration statement pursuant
to the terms of its October 22, 2010
private placement of 14,666,739 special warrants ("Special
Warrants"). The Special Warrants were issued to the selling
securityholders at a purchase price of $2.30 per Special Warrant for aggregate gross
proceeds to the Company of $33,733,500. Following approval of the
private placement by the Company's shareholders at a special
meeting held on December 15, 2010,
each Special Warrant was automatically exercised, for no additional
consideration, for one common share of the Company and one common
share purchase warrant. In addition, the Company issued a
total of 641,305 Special Warrants and 630,436 compensation warrants
to the agents and finders that provided services to the Company in
connection with the private placement.
The Company will take no part in the resale of the securities
and nothing in this press release is intended to convey or
communicate an offer to sell the securities by or on behalf of the
Company. The prospectus contained in the registration
statement is available online at www.sec.gov or by request to the
Company at: 7961 Shaffer Parkway, Suite 5, Littleton, Colorado 80127, Attention:
Connie Martinez, telephone (720)
981-1185.
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 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, proceeds from the exercise of warrants, and other such matters
are forward-looking statements and forward-looking information.
When used in this press release, the words "potential",
"indicate", "expect", "intend", "hopes", "believe", "may", "will",
"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, 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.
For further information, please contact Connie Martinez at (720) 981-1185.
SOURCE Vista Gold Corp.