Vista Gold Corp. Announces Closing of Public Offering of Common Shares
07 November 2006 - 3:17PM
PR Newswire (US)
DENVER, Nov. 7 /PRNewswire-FirstCall/ -- Vista Gold Corp. (TSX
& Amex: VGZ) (the "Company") announced today the closing of its
public offering (the "Offering") of 3,668,100 of its common shares
at a price to the public of US$8.50 per share, resulting in net
proceeds to the Company of approximately US$29.6 million after
payment of agents' fees but excluding estimated offering expenses.
The Company also issued, as additional consideration to the agents,
compensation warrants entitling the agents to purchase an aggregate
of 183,405 common shares of the Company at a price of US$8.50 per
share for a period of two years following the closing date. All of
the shares were offered on a best efforts agency basis pursuant to
an effective shelf registration statement previously filed with the
U.S. Securities and Exchange Commission (the "SEC"). The Company
had also previously filed a base shelf prospectus with the
securities regulatory authorities in the provinces of British
Columbia, Alberta, Manitoba and Ontario, Canada in connection with
the Offering. The Company expects to use the proceeds of the
Offering to finance the previously-announced transaction involving
the transfer of the Company's Nevada-based properties into a new
publicly-listed company and the acquisition by that new company of
the Nevada-based mining assets of Carl and Janet Pescio, and for
general working capital and general corporate purposes. Sprott
Securities (USA) Limited and Griffiths McBurney Corp. acted as
agents in respect of the Offering in the United States and Sprott
Securities Inc. and GMP Securities, L.P. acted as agents in respect
of the Offering in Canada. Copies of the final prospectus
supplements and the base shelf prospectuses may be obtained from
Sprott Securities Inc. (attn: Susan Samila- Moroz), Suite 2800,
South Tower, Royal Bank Plaza, Toronto, Ontario, M5J 2J2, Tel#
(416) 943-6405 and Fax # (416) 943-6496. The final prospectus
supplement and the base prospectus relating to the Offering filed
with the SEC are also available on the SEC's website at
http://www.sec.gov/. Copies of any prospectus supplements filed
with the securities regulatory authorities in Canada are available,
along with the Canadian base shelf prospectus, at
http://www.sedar.com/. This press release shall not constitute an
offer to sell or a solicitation of an offer to buy common shares,
nor shall there be any sale of such securities in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction. About Vista Gold
Corp. Vista Gold Corp., based in Littleton, Colorado, evaluates and
acquires gold projects with defined gold resources. Additional
exploration and technical studies are undertaken to maximize the
value of the projects for eventual development. The Company's
holdings include the Maverick Springs, Mountain View, Hasbrouck,
Three Hills, Wildcat projects, the F.W. Lewis, Inc. properties and
the Hycroft mine, all in Nevada, the Long Valley project in
California, the Yellow Pine project in Idaho, the Paredones
Amarillos and Guadalupe de los Reyes projects in Mexico, the Mt.
Todd project in Australia, the Amayapampa project in Bolivia and
the Awak Mas project in Indonesia. Forward-Looking Statements This
press release contains forward-looking statements within the
meaning of the U.S. Securities Act of 1933 and U.S. Securities
Exchange Act of 1934. All statements, other than statements of
historical facts, included in this press release that address
activities, events or developments that the Company expects or
anticipates will or may occur in the future are forward-looking
statements. The timing, occurrence and results of events could
differ materially from those anticipated in the forward-looking
statements as a result of risks and uncertainties, which include,
without limitation, risks relating to fluctuations in the price of
gold and uncertainties concerning reserve and resource estimates,
as well as those factors discussed in the Company's latest Annual
Report on Form 10-K and Quarterly Report on Form 10-Q and other
documents filed with the U.S. Securities and Exchange Commission.
Although the Company has attempted to identify important factors
that could cause actual results to differ materially from those
described in forward- looking statements, there may be other
factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that such statements will prove
to be accurate as actual results and future events could differ
materially from those anticipated in such statements. The Company
assumes no obligation to publicly update any forward-looking
statements, whether as a result of new information, future events
or otherwise. For further information, please contact Greg Marlier
at (720) 981-1185, or visit the Vista Gold Corp. website at
http://www.vistagold.com/. DATASOURCE: Vista Gold Corp. CONTACT:
Greg Marlier, +1-720-981-1185 Web site: http://www.vistagold.com/
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