Business
Vista Gold Corp. Announces Closing of Repurchase of US$5,667,000 in Principal Amount of its Notes
Vista Gold Corp. Announces Closing of Repurchase of US$5,667,000 in Principal Amount of its Notes
About this update from Vista Gold Corp
[{"type":"text","content":"\n\n\n\n May 20, 2010 (Canada NewsWire Group) -- \n >\n\n Vista Gold Corp. ("Vista" or the "Corporation") (TSX & NYSE Amex: VGZ) today announced that it has closed its previously announced repurchase of an aggregate of US$5,667,000 in principal amount of its 10% senior secured convertible notes (the "Notes") due March 4, 2011 from a Noteholder, pursuant to the terms of a repurchase agreement dated May 13, 2010 (the "Agreement").\n\nUnder the terms of the Agreement, Vista paid the Noteholder US$2,232,798 in cash and 1,902,684 in common shares in the capital of the Corporation in consideration for the Notes and interest due to maturity. The common shares were issued at a price of US$2.15 per share. Vista's weighted average price per share was US$2.32 on the NYSE Amex Equities Stock Exchange for the five trading days before the execution of the Agreement.\n\nThe Notes repurchased by Vista have been cancelled, and US$23 million principal amount of Notes remain outstanding.\n\n >\n\nVista is focused on the development of the Paredones Amarillos gold project in Baja California Sur, Mexico and the Mt. Todd gold project in Northern Territory, Australia to achieve its goal of becoming a gold producer. Vista's other holdings include the Guadalupe de los Reyes gold project in Mexico, the Yellow Pine gold project in Idaho, the Awak Mas gold project in Indonesia, and the Long Valley gold project in California. For more information about our projects, including technical studies and resource estimates, please visit our website at www.vistagold.com.\n\nThe 1,902,684 common shares of the Corporation issued pursuant to the terms of the Agreement have not been and will not be registered under the United States Securities Act of 1933, as amended, or any applicable state securities laws and may not be offered or sold in the United States absent such registration or an applicable exemption from such registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities.\n\n >\n\nThis 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,...