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Vista Gold Corp. Announces Interim Order and Mailing of Meeting Materials in Connection With Proposed Transaction
Vista Gold Corp. Announces Interim Order and Mailing of Meeting Materials in Connection With Proposed Transaction.
About this update from Vista Gold Corp
[{"type":"text","content":"\n\n\n\n\nDENVER, Oct. 23 /CNW/ -- Vista Gold Corp. (Amex: VGZ; TSX) announced\ntoday that on October 17, 2006, the Corporation obtained an interim order from\nthe Supreme Court of the Yukon Territory in connection with the holding of a\nmeeting of securityholders of the Corporation to approve matters related to\nthe previously announced transaction which, if completed, will result in Vista\ntransferring its existing Nevada properties into a recently incorporated\ncompany, Allied Nevada Gold Corp. (\"Allied Nevada\"), that will concurrently\nacquire the Nevada mineral assets of Carl and Janet Pescio.\nThe proposed transaction will be considered by holders of shares, options\nand warrants of the Corporation at the special meeting of the Corporation\nscheduled for November 16, 2006 (previously scheduled for November 15, 2006).\nThe Information and Proxy Circular relating to the special meeting was\ndelivered to securityholders on October 20, 2006. A copy of the materials\ndelivered to securityholders is available on SEDAR at www.sedar.com and on\nEDGAR at www.sec.gov/edgar.shtml.\nUnder the proposed transaction, Vista's shareholders will exchange their\nexisting common shares of Vista and will receive new common shares of Vista\nand common shares of Allied Nevada. Holders of options to acquire Vista\ncommon shares will exchange their options for options to acquire new common\nshares of Vista and options to acquire common shares of Allied Nevada. Holders\nof warrants of Vista will have their warrants adjusted in accordance with the\nterms of the warrants.\nCompletion of the transaction remains subject to a number of conditions,\nincluding receipt of all required court, securityholder, regulatory and third\nparty approvals and other customary conditions. Subject to receipt of the\nrequired approvals and conditions, the transaction is expected to close in\nlate November or in December, 2006.\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, the F.W.\nLewis, Inc. properties and the Hycroft mine, all in Nevada, the Long Valley\nproj...