Business
Vista Gold Corp. Announces Closing of Public Offering of Common Shares
Vista Gold Corp. Announces Closing of Public Offering of Common Shares.
About this update from Vista Gold Corp
[{"type":"text","content":"\n\n\n\n\nDENVER, Nov. 7 /CNW/ -- Vista Gold Corp. (TSX & Amex: VGZ) (the\n\"Company\") announced today the closing of its public offering (the \"Offering\")\nof 3,668,100 of its common shares at a price to the public of US$8.50 per\nshare, resulting in net proceeds to the Company of approximately US$29.6\nmillion after payment of agents' fees but excluding estimated offering\nexpenses. The Company also issued, as additional consideration to the agents,\ncompensation warrants entitling the agents to purchase an aggregate of 183,405\ncommon shares of the Company at a price of US$8.50 per share for a period of\ntwo years following the closing date. All of the shares were offered on a\nbest efforts agency basis pursuant to an effective shelf registration\nstatement previously filed with the U.S. Securities and Exchange Commission\n(the \"SEC\"). The Company had also previously filed a base shelf prospectus\nwith the securities regulatory authorities in the provinces of British\nColumbia, Alberta, Manitoba and Ontario, Canada in connection with the\nOffering.\nThe Company expects to use the proceeds of the Offering to finance the\npreviously-announced transaction involving the transfer of the Company's\nNevada-based properties into a new publicly-listed company and the acquisition\nby that new company of the Nevada-based mining assets of Carl and Janet\nPescio, and for general working capital and general corporate purposes.\nSprott Securities (USA) Limited and Griffiths McBurney Corp. acted as\nagents in respect of the Offering in the United States and Sprott Securities\nInc. and GMP Securities, L.P. acted as agents in respect of the Offering in\nCanada. Copies of the final prospectus supplements and the base shelf\nprospectuses may be obtained from Sprott Securities Inc. (attn: Susan Samila-\nMoroz), Suite 2800, South Tower, Royal Bank Plaza, Toronto, Ontario, M5J 2J2,\nTel# (416) 943-6405 and Fax # (416) 943-6496. The final prospectus supplement\nand the base prospectus relating to the Offering filed with the SEC are also\navailable on the SEC's website at http://www.sec.gov. Copies of any\nprospectus supplements filed with the securities regulatory authorities in\nCanada are available, along with the Canadian base shelf prospectus, at\nhttp://www.sedar.com.\n\nThis press release shall not constitute an offer to sell or a\nsol...