Vista Gold Corp. Prices Public Offering of Units
DENVER, Dec. 14, 2012 /PRNewswire/ -- Vista Gold
Corp. (the "Company," "we" or "our") (NYSE MKT and TSX: VGZ)
announced today that it has priced an underwritten public offering
of approximately 3.6 million units at a price to the
public of US$2.75 per unit. Each unit
is comprised of one common share of the Company and one-half of one
common share purchase warrant, with each whole warrant exercisable
to purchase one common share of the Company's stock at an exercise
price of US$3.30 for a period of 24
months from the closing of this offering. The warrants will not be
listed on any stock exchange.
The Company expects that the offering will yield gross proceeds,
before expenses, of US$10.0
million and intends to use the net proceeds of the offering to
advance our Mt. Todd gold project in Australia, including completing a bankable
feasibility study, for corporate administration, to complete a
preliminary economic assessment on our Guadalupe de los Reyes gold/silver project in
Mexico, and for working capital
requirements and general corporate purposes. The offering is
expected to close on or about December 21,
2012, subject to customary closing conditions, including the
approval of the Toronto Stock Exchange and the NYSE MKT. In
connection with the offering, the Company has also granted the
underwriters a 30-day option to purchase up to approximately
0.5 million additional units at the applicable offering price
to cover over-allotments, if any.
Dahlman Rose & Company, LLC
and National Bank Financial Inc. are acting as joint book-running
managers for the offering and Casimir Capital L.P. is acting as
co-manager, pursuant to the terms of an underwriting agreement
entered into with the Company. The securities described above are
being offered pursuant to a final prospectus supplement to a base
shelf prospectus dated April 19, 2011
filed with the securities regulatory authorities in each of the
provinces and territories of Canada, other than Quebec, and with the U.S. Securities and
Exchange Commission (the "SEC") pursuant to its effective
registration statement on Form S-3.
Copies of the final prospectus supplement and accompanying base
shelf prospectus relating to this offering can be obtained at the
SEC's website at www.sec.gov and on SEDAR at www.sedar.com. A copy
of the preliminary prospectus supplement and accompanying
prospectus relating to these securities may also be obtained
from:
Dahlman Rose & Company,
LLC
Attn: Prospectus Dept.
1301 Avenue of the Americas, 36th Floor
New York, NY 10019
Phone: (212) 702-4521
Fax: (212) 920-2952
Email: prospectus@drco.com
National Bank Financial Inc.
Attn: Heather McLennan
130 King Street West, Suite 3200
Toronto, ON M5X 1J9
Phone: (416) 869-6662
Fax: (416) 869-1010
Email: heather.mclennan@nbc.ca
This news release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which the offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction. The securities being offered have not been approved
or disapproved by any regulatory authority, nor has any such
authority passed upon the accuracy or adequacy of the prospectus
supplement, the base shelf prospectus or the Company's shelf
registration statement.
About Vista Gold Corp.
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 Los Cardones
(formerly named 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.
For further information, please contact Connie Martinez at (720) 981-1185.
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 we expect or anticipate
will or may occur in the future, including such things as, the
completion of the offering, Vista's proposed use of the
proceeds from the offering and Vista's goal of becoming a gold
producer, 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 "optimistic," "potential,"
"indicate," "expect," "intend," "hopes," "believe," "may," "will,"
"if," "anticipate," "goal," 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 the Company 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 and reserve
estimates; estimates of results based on such resource and reserve
estimates; risks relating to completing updated resource and
reserve estimates; risks relating to cost increases for capital and
operating costs; risks relating to delays in the completion of
technical studies on our projects; 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 our 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 the Company's
latest Annual Report on Form 10-K as filed on March 14, 2012 and the Company's Amendment 1 to
its Annual Report filed on April 5,
2012 and other documents filed with the SEC and Canadian
securities regulatory authorities. Although we have 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, we assume no obligation
to publicly update any forward-looking statements or
forward-looking information; whether as a result of new
information, future events or otherwise.
SOURCE Vista Gold Corp.