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Vista Gold Corp. Announces Proposed U.S. $3.3 Million Non-Brokered Private Placement
Vista Gold Corp. Announces Proposed U.S. $3.3 Million Non-Brokered Private Placement.
About this update from Vista Gold Corp
[{"type":"text","content":"\n\n\n\n\nDENVER, Jan. 19 /CNW/ -- Vista Gold Corp.\n(Amex: VGZ; Toronto) announces that, subject to regulatory approval, it plans\nto undertake a non-brokered private placement financing which, if completed,\nwill raise gross proceeds of up to approximately U.S. $3.3 million from the\nsale of up to 650,000 units priced at U.S. $5.05 per unit. The proceeds will\nbe used to supplement the Corporation's working capital following its\nexpenditure in December 2005 of U.S. $5.2 million as partial consideration for\nthe acquisition of the Hycroft Royalty and approximately 20,000 acres of\nmineral claims in Nevada, as previously reported, and also for the acquisition\nof additional projects, if suitable opportunities arise, maintenance and\nevaluation of current projects and on-going administration costs. Each unit\nwill consist of one common share and one warrant. Each warrant will entitle\nthe holder to acquire one common share at an exercise price of U.S. $6.00 for\na period of two years from the date of issue.\nThe terms of the private placement will require Vista to register for\nresale, under the U.S. Securities Act of 1933, the common shares issued in the\nplacement, as well as the common shares issuable upon the exercise of\nwarrants. No finder's fee is payable in connection with the placement.\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 r...