Business
Vista Gold Corp. Announces Filing of Final Short Form Base Shelf Prospectus and Amendment of Shelf Registration Statement
DENVER , July 11, 2014 /CNW/ - Vista Gold Corp. (the "Company," "we" or "our") (N...
About this update from Vista Gold Corp
[{"type":"text","content":"\n\n\n\nDENVER, July 11, 2014 /CNW/ - Vista Gold Corp. (the \"Company,\" \"we\" or \"our\") (NYSE MKT and TSX: VGZ) is pleased to announce that it filed a final short form base shelf prospectus with the securities commissions in each province and territory of Canada (other than Quebec) (the \"Canadian Prospectus\") and an amendment to its shelf registration statement on Form S-3 filed with the United States Securities and Exchange Commission (collectively, the \"Offering Documents\"). The Canadian Prospectus was filed to replace Vista's prior Canadian short form base shelf prospectus that expired last quarter. Vista's current shelf registration statement on Form S-3 expires next year and will not be affected by the filing of this separate shelf registration statement on Form S-3. The Company has no current intention to immediately sell securities under the Offering Documents. This preserves Vista's ability to complete future financings for corporate growth and development in an efficient and flexible manner, if appropriate at the time.\nThe Offering Documents, if and when brought effective, allow Vista to make offerings of common shares, warrants, subscription receipts or units for aggregate proceeds of up to US$50 million during the next three years to potential purchasers in the United States and during the next 25 months to potential purchasers in each province and territory of Canada (other than Quebec).\nAs previously announced, Vista currently anticipates using any proceeds from the sale of securities under the Offering Documents, if any, to fund the development of existing or acquired mineral properties, property acquisitions, working capital requirements, to repay indebtedness outstanding from time to time, if any, or for other general corporate purposes.\nFrederick H. Earnest, President and Chief Executive Officer commented, \"We have brought our costs down dramatically over the past year, and are prepared to keep our costs at these current levels as we wait for the markets to improve. Until then, we will continue to give priority to financing through non-dilutive means, such as the sale of non-core assets. Prudent business practice dictates that we maintain the flexibility that these shelf filings afford us, although our history shows that we use them sparingly.\" \nThe terms of any securities offered under the Offerin...