Business
Vista Gold Corp. Announces Closing of U.S. $3.28 Million Non-Brokered Private Placement
Vista Gold Corp. Announces Closing of U.S. $3.28 Million Non-Brokered Private Placement.
About this update from Vista Gold Corp
[{"type":"text","content":"\n\n\n\n\nDENVER, Feb. 2 /CNW/ -- Vista Gold Corp.\n(Amex: VGZ; Toronto) is pleased to announce the closing of the non-brokered\nprivate placement previously announced on January 19, 2006. The Corporation\nraised gross proceeds of U.S. $3,280,904 from the sale of 649,684 units priced\nat U.S. $5.05 per unit. Each unit consists of one common share and one\nwarrant. Each warrant will entitle the holder to acquire one common share at\nan exercise price of U.S. $6.00 for a period of two years from the date of\nissue. The Corporation is to register for resale, under the U.S. Securities\nAct of 1933, the common shares issued in the placement, as well as the common\nshares issuable upon the exercise of warrants.\n\"The proceeds of this private placement will be used to supplement our\nworking capital following our expenditure in December 2005 of U.S.\n$5.2 million as partial consideration for the acquisition of the Hycroft\nRoyalty and approximately 20,000 acres of mineral claims in Nevada, as\npreviously reported, and also for the acquisition of additional projects, if\nsuitable opportunities arise, maintenance and evaluation of current projects\nand on-going administration costs,\" said Mike Richings, President and Chief\nExecutive Officer.\nThe securities described above have not been registered under the U.S.\nSecurities Act of 1933 and may not be offered or sold in the United States\nabsent registration or an applicable exemption from registration requirements.\n\nVista Gold Corp., based in Littleton, Colorado, evaluates and acquires\ngold projects with defined gold resources. Additional exploration and\ntechnical studies are undertaken to maximize the value of the projects for\neventual development. The Corporation's holdings include the Maverick\nSprings, Mountain View, Hasbrouck, Three Hills, Wildcat projects and Hycroft\nMine, all in Nevada, the Long Valley project in California, the Yellow Pine\nproject in Idaho, the Paredones Amarillos and Guadalupe de los Reyes projects\nin Mexico, the Amayapampa project in Bolivia and the Awak Mas project in\nIndonesia.\n\nThe statements that are not historical facts are forward-looking\nstatements involving known and unknown risks and uncertainties that could\ncause actual results to vary materially from targeted results. Such risks and\nuncertainties include those described from time to ...