Vista Gold Corp. Announces Appointments to the Board of Directors of Midas Gold Corp.
06 Mai 2011 - 1:31PM
PR Newswire (Canada)
DENVER, May 6, 2011 /CNW/ -- Vista Gold Corp. (TSX & NYSE Amex
Equities: VGZ) ("Vista" or the "Company") announced that Michael B.
Richings, Vista's CEO and Executive Chairman and Frederick H.
Earnest, Vista's President and COO have been appointed to the board
of directors of Midas Gold Corp. ("Midas"), a Canadian private
company. As previously announced on April 6, 2011, Vista and Midas
completed a transaction to combine Midas' Hangar Flats and West End
deposits with Vista's Yellow Pine deposit in Idaho to form the
newly named Golden Meadows project under the direction and
management of Midas (the "Combination"). Concurrent with the
Combination, Midas completed a private placement of 6,129,800
common shares of in the capital of Midas ("Midas Shares") at a
purchase price of Cdn.$2.50 per Midas Share to raise gross proceeds
of Cdn.$15,324,500 (the "Private Placement"). Vista currently holds
31,802,615 Midas Shares, which immediately following the completion
of the private placement represented 37.4% of the issued and
outstanding Midas Shares (34.2% on a fully diluted basis). Based on
the Private Placement offering price, Vista's ownership of Midas
currently represents a value of approximately Cdn.$80.0 million [or
a value of Cdn$1.13 per issued share of Vista]. Based on our
expectations of the exploration potential of the Golden Meadows
project, Vista believes that our investment in Midas has potential
to increase in value over time. 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 potential value of Vista's investment
in Midas 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
regarding the future value of the Midas shares; 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, or visit the
Vista Gold Corp. website at www.vistagold.com Web Site:
http://www.vistagold.com
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