Vista Gold Corp. Announces Closing of Over-Allotment of Common Share Offering
25 September 2009 - 2:50PM
PR Newswire (US)
DENVER, Sept. 25 /PRNewswire-FirstCall/ -- Vista Gold Corp.
("Vista" or the "Company") (TSX & NYSE Amex: VGZ) is pleased to
announce the closing of the sale of 1.32 million common shares,
pursuant to the underwriters' exercise of the over-allotment
option, which the Company granted in connection with its
recently-closed public offering of common shares. Consistent with
the public offering of common shares that closed on September 21,
2009, the 1.32 million common shares were sold to the underwriters
at the public offering price of US$2.25 per common share. The
over-allotment and the recently-closed public offering were made
pursuant to the Company's shelf registration statement filed with
the U.S. Securities and Exchange Commission (the "SEC") and a shelf
prospectus filed with certain Canadian securities regulatory
authorities. With the sale of the additional 1.32 million common
shares to the underwriters, 10.12 million common shares in total
have been sold in connection with the offering. Proceeds to the
Company from the offering to date, net of commissions and expenses,
are approximately US$20.3 million, which includes net proceeds of
approximately US$2.74 million from the sale of the 1.32 million
common shares pursuant to the underwriters' exercise of the
over-allotment option. Vista intends to use the net proceeds from
this offering (i) to fund drilling, exploration, and
technical/engineering activities (including the preparation of a
feasibility study) on its Mt. Todd gold project, (ii) to fund the
engineering, design and other technical activities to advance its
Paredones Amarillos gold project, (iii) to fund exploration
activities and if warranted, drilling programs at its Guadalupe de
los Reyes gold project and (iv) to fund acquisitions, and further
development of acquired mineral properties, working capital
requirements and/or for other general corporate purposes. Dahlman
Rose & Company, LLC and Wellington West Capital Markets Inc.
acted as joint book-runners for the offering. The offering was made
by way of a registration statement, which has been declared
effective by the SEC, a base shelf prospectus and a final
prospectus supplement each of which has been filed with the SEC and
each of the Canadian provinces of British Columbia, Alberta,
Manitoba, Ontario and Newfoundland and Labrador. A copy of the
final prospectus supplement incorporating the base shelf prospectus
relating to the offering may be obtained by either contacting the
underwriters, by accessing the SEC website, http://www.sec.gov/, or
by accessing the website maintained by the Canadian securities
regulatory authorities, SEDAR, at http://www.sedar.com/. In the
United States from: Dahlman Rose & Company, LLC Attn:
Prospectus Dept. 142 West 57th Street 18th Floor New York, NY 10019
Phone: 212-702-4521 Fax: 212-920-2952 Email: In Canada from:
Wellington West Capital Markets Inc. Attn: Scott Larin 145 King
Street West, Suite 700 Toronto, Ontario M5H 1J8 Phone: 416-640-4893
Fax: 416-640-4946 Email: 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 final
prospectus supplement, the base prospectus or the Company's shelf
registration statement. A registration statement relating to the
securities has been filed with the SEC and became effective April
30, 2009. A final prospectus supplement relating to the offering
has been filed with the SEC. A base shelf prospectus has been filed
with the securities regulatory authorities in certain provinces in
Canada and a final prospectus supplement was filed with such
regulatory authorities. About Vista Gold Corp. Since 2001, Vista
has acquired a number of gold projects with the expectation that
higher gold prices would increase their value. Vista has taken
steps to advance the Paredones Amarillos gold project located in
Baja California Sur, Mexico, towards production. These steps
include the completion of a definitive feasibility study, the
purchase of long delivery processing equipment items, and the
purchase of land for the processing facilities, related
infrastructure and the desalination plant. The results of a
preliminary economic assessment completed in 2009 on the Mt. Todd
gold project in Australia are encouraging and Vista is undertaking
other studies to advance the project, with the completion of a
preliminary feasibility study targeted for the fourth quarter of
2009 Vista's other holdings include the Guadalupe de los Reyes gold
project in Mexico, Yellow Pine gold project in Idaho, Awak Mas gold
project in Indonesia, and the Long Valley gold project in
California. For further information, please contact: Vista Gold
Corp. Attn: Greg Marlier 7961 Shaffer Parkway, Suite 5 Littleton,
Colorado 80127 Phone: 720-981-1185 Fax: 720-981-1186 Email: 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 statements as to the use of proceeds. When used in this
press release, the words "optimistic", "potential", "indicate",
"expect", "intend", "hopes", "believe", "may", "will", "if" 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, the future use of
proceeds, risks relating to cost increases for capital and
operating costs including cost of power; risks relating to delays
at Vista's projects; risks of shortages of equipment or supplies;
risks relating to fluctuations in the price of gold; the inherently
hazardous nature of mining-related activities; uncertainties
concerning resource estimates; 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; risks related to repayment of debt; risks related to
increased leverage and uncertainty of being able to raise capital
on favorable terms or at all; as well as those factors discussed in
Vista'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 and Canadian securities commissions. 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. DATASOURCE: Vista Gold
Corp. CONTACT: Greg Marlier of Vista Gold Corp., +1-720-981-1185,
fax, +1-720-981-1186, Web Site: http://www.vistagold.com/
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