Vista Gold Corp. Announces Closing of US$30 Million Brokered Private Placement

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[{"type":"text","content":"\n\n\n\nDENVER, March 7 /CNW/ -- Vista Gold Corp. ("Vista" or the "Corporation")\n(Amex: VGZ; TSX: VGZ.) announced today the closing of a brokered private\nplacement of senior secured convertible notes (the "Notes") of the\nCorporation. Gross proceeds to the Corporation were US$30 million. For a\ndescription of the Notes, we refer you to our press release dated February 12,\n2008.\n\n\nAs compensation to the agent (the "Agent") in respect of the offering of\nthe Notes, the Corporation has paid to the Agent a cash fee of US$1.2 million,\nbeing 4% of the gross proceeds of the offering, and has issued to the Agent\n200,000 common share purchase warrants, being 4% of number of common shares\nissuable upon the conversion of the Notes sold in the offering, assuming a\nconversion price of US$6.00. Each such Agent's warrant will be exercisable for\none common share for US$6.00 per share until three years following the date of\nissuance.\n\n\nThe Corporation will use the net proceeds of the offering of the Notes to\nfinance the previously announced purchase of gold processing equipment to be\nused at the Paredones Amarillos gold project and to fund ongoing operations at\nthe Paredones Amarillos gold project.\n\n\nThe above-described securities have not been registered under the\nSecurities Act of 1933 or any state securities laws, and may not be offered or\nsold in the United States absent registration or applicable exemption from\nregistration requirements.\n\n\nThis press release contains forward-looking statements within the meaning\nof the U.S. Securities Act of 1933 and U.S. Securities Exchange Act of 1934\nand forward-looking information within the meaning of Canadian securities\nlaws. All statements, other than statements of historical facts, included in\nthis press release that address activities, events or developments that Vista\nexpects or anticipates will or may occur in the future, including such things\nas Vista's plans for financing the Paredones Amarillos Project including the\nnature and timing of financing; plans for construction and development\nactivities at the Paredones Amarillos Project; and other such matters are\nforward-looking statements and forward-looking information. When used in this\npress release, the words "will", "estimate", "plan", &...

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