Business
Vista Gold Corp. Announces Pricing of Common Stock Offering
Vista Gold Corp. Announces Pricing of Common Stock Offering
About this update from Vista Gold Corp
[{"type":"text","content":"\n\n\n\nSep. 15, 2009 (Canada NewsWire Group) -- DENVER, Sept. 15 /CNW/ --Vista Gold Corp (\"Vista\" or the \"Company\") (TSX & NYSE Amex: VGZ) is pleased to announce the pricing of its previously announced public offering of common stock pursuant to the Company's shelf registration statement filed with the U.S. Securities and Exchange Commission (the \"SEC\") and a shelf prospectus filed with certain Canadian securities regulatory authorities. The Company has agreed to increase the number of shares sold by 10 percent to 8.8 million shares at a price of US$2.25 per share of common stock. The Company has granted the underwriters a 30-day option to purchase up to 1.32 million additional shares of common stock to cover over-allotments, if any.Proceeds to the Company from the offering, net of commissions and expenses, are expected to be approximately US$17.6 million (assuming the underwriters' over-allotment option is not exercised). The offering is expected to close on September 21, 2009.Vista intends to use the net proceeds from this offering (i) to fund drilling, exploration, and technical/engineering activities (including the preparation of a feasibility study) on its Mt. Todd gold project, (ii) to fund the engineering, design and other technical activities to advance its Paredones Amarillos gold project, (iii) to fund exploration activities and if warranted, drilling programs at its Guadalupe de los Reyes gold project and (iv) to fund acquisitions, and further development of acquired mineral properties, working capital requirements and/or for other general corporate purposes.Dahlman Rose & Company, LLC and Wellington West Capital Markets Inc. are acting as joint book-runners for the offering.The offering is being made by way of a registration statement, which has been declared effective by the SEC, a base shelf prospectus and a final prospectus supplement each of which has been filed with the SEC and each of the Canadian provinces of British Columbia, Alberta, Manitoba, Ontario and Newfoundland and Labrador. A copy of the final prospectus supplement incorporating the base shelf prospectus relating to the offering may be obtained by either contacting the underwriters, by accessing the SEC website, www.sec.gov, or by accessing the website maintained by the Canadian securities regulatory authorities, SEDAR, at www.sedar.com. In th...