DENVER, July 30, 2012 /PRNewswire/ -- Vista Gold
Corp. (TSX & NYSE MKT Exchanges: VGZ) ("Vista" or the
"Company") is pleased to announce that it has closed its previously
announced private placement of units (the "Units"). The
Company completed the sale of 5,000,000 Units for gross proceeds of
US$15,000,000 (the "Offering").
Each Unit consists of one common share in the capital of the
Company (a "Common Share") and one-half of one Common Share
purchase warrant (each full warrant, a "Warrant"). Each
Warrant entitles the holder thereof to purchase one Common Share at
a price of US$3.60 until July 27, 2014.
In connection with the Offering, the Company paid cash
commissions in the aggregate of $500,000 and issued a total of 166,667
compensation warrants ("Compensation Warrants") to finders that
provided services in respect of subscriptions for 3,333,334
Units. Each Compensation Warrant entitles the holder thereof
to purchase one Common Share at a price of US$3.18 until July 27,
2014.
The net proceeds from the Offering will be used for ongoing
technical evaluations and engineering studies, exploration/resource
conversion drilling and water treatment at the Mt. Todd gold
project in Northern Territory, Australia and for general corporate
purposes.
The above-described securities have not been registered under
the U.S. Securities Act of 1933, as amended, (the "U.S. Securities
Act") or any state securities laws of any state of the United States, and may not be offered or
sold in the United States or to,
or for the account or benefit of, a U.S. person (as defined in
Regulation S under the U.S. Securities Act) or a person in
the United States absent
registration under the U.S. Securities Act or an applicable
exemption from such registration requirements and in accordance
with all applicable state securities laws of any state of the
United States. This press release shall not constitute an
offer to sell or solicitation of an offer to buy nor shall there be
any sale of the above described securities in any jurisdiction in
which such offer, solicitation or sale would be unlawful.
About Vista Gold
Vista is focused on the development of the Mt. Todd gold project
in Northern Territory, Australia,
to achieve its goal of becoming a gold producer. Vista is advancing
exploration on its Guadalupe de los
Reyes gold/silver project in Mexico and has granted Invecture Group, S.A.
de C.V. a right to earn a 62.5% interest in the Concordia gold project in Mexico. Vista's other holdings include 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 use of proceeds from the private placement and other such
matters are forward-looking statements and forward-looking
information. The material factors and assumptions used to develop
the forward-looking statements and forward-looking information
contained in this press release include the following: our approved
business plans, exploration and assay results, mineral resource and
reserve estimates and results of preliminary economic assessments,
pre-feasibility studies and feasibility studies on our projects, if
any. When used in this press release, the words "may",
"will", "intends", "goal", "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 and
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, 2012 and Vista's Amendment 1 to its
Annual Report filed on April 5, 2012
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.
SOURCE Vista Gold Corp.