Business
Midas Gold Corp. IPO Values Vista Gold Investment at Cdn$103 Million
Jul. 14, 2011 (Canada NewsWire Group) -- > DENVER, July 14, 2011 /CNW/ -- Vista Gold C...
About this update from Perpetua Resources Corp.
[{"type":"text","content":"\n\n\n Jul. 14, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\n >\n\nDENVER, July 14, 2011 /CNW/ -- Vista Gold Corp. (TSX & NYSE Amex Equities: VGZ) ("Vista" or the "Corporation") today announced that Midas Gold Corp. ("Midas") has successfully completed an IPO, issuing 12,307,700 common shares of Midas ("Midas Shares") for gross proceeds of Cdn$40,000,025 million. Midas Shares began trading on the Toronto Stock Exchange today under the symbol "MAX." Vista owns 31,802,615 Midas Shares, which following the completion of Midas' IPO represents 30.7 % of the issued and outstanding shares of Midas. Based on the IPO price of Cdn$3.25 per share, Vista's investment in Midas is expected to have a value of Cdn$103,358,499 and based on the number of issued common shares of Vista, this is equivalent to Cdn$1.45 per Vista share.\n\nIn April 2011, through a combination transaction, Vista and Midas Gold, Inc. consolidated their respective mineral properties in the Stibnite-Yellow Pine gold district in Idaho to form what is now called the Golden Meadows Project. The combination transaction resulted in Midas owning the Golden Meadows Project.\n\nFred Earnest, Vista's President and COO, commented, "We congratulate Stephen Quin and the Midas team on a well-executed IPO. We believe that the consolidation and IPO confirms our view of the significant value of our prior holdings in the Yellow Pine district. We also believe that the Golden Meadow...