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Vista Gold and Allied Nevada Announce Listing of New Shares
Vista Gold and Allied Nevada Announce Listing of New Shares.
About this update from Vista Gold Corp
[{"type":"text","content":"\n\n\n\nDENVER, May 10 /CNW/ -- Vista Gold Corp. (Amex: VGZ; Toronto) ("Vista")\nand Allied Nevada Gold Corp. (Amex: ANV; Toronto) ("Allied Nevada") announce\nthat the new common shares of Vista and the shares of common stock of Allied\nNevada ("Allied Nevada Shares") began trading today on the Toronto Stock\nExchange (the "TSX") and the American Stock Exchange (the "AMEX"). The\nlistings on the TSX and the AMEX result from the completion of the previously\nannounced plan of arrangement involving Vista, Allied Nevada and Carl and\nJanet Pescio that closed earlier today. The completion of the transaction\nresulted in, among other things, the transfer of Vista's Nevada properties to\nAllied Nevada. Accordingly, shareholders should be aware that Vista no longer\nholds any interest in these Nevada properties and trading in the Vista shares\non both exchanges is ex-distribution of the Allied Nevada Shares distributed\npursuant to the arrangement.\n\n\nAs previously announced, for each share of Vista that a shareholder owned\nimmediately prior to the effective time of the arrangement, they will receive,\nsubject to applicable withholding taxes (a) one new share of Vista, (b) 0.794\nof an Allied Nevada Share, and (c) any payment they are entitled to receive in\nlieu of a fractional share of Allied Nevada. The amount of any cash payment\nin lieu of a fractional share is equal to the product of: (i) the fractional\ninterest; multiplied by (ii) US$5.00.\n\n\nAbout Vista Gold Corp.\n\n\nSince 2001, Vista has acquired a number of discovered gold projects with\nthe expectation that higher gold prices would significantly increase their\nvalue. As gold prices have risen, Vista has completed various preliminary\nevaluations that have confirmed that some of the projects would be potentially\nviable operations at today's gold prices. Currently, Vista is undertaking\ntechnical programs to bring the most advanced projects to the point where\ndecisions can be made to put these projects into production, either by Vista,\nor through sale or joint venture to other mining companies. The Company's\nholdings include the Paredones Amarillos and Guadalupe de los Reyes Projects\nin Mexico, Mt Todd Project in Australia, Yellow Pine Project in Idaho, Awak\nMas Project in Indonesia, Long Valley Project in Califo...