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Vista Gold Corp. Receives $1.5 Million Guadalupe de los Reyes Payment
DENVER, July 20, 2020 (GLOBE NEWSWIRE) -- Vista Gold Corp. (NYSE American and TSX: VGZ) (“Vista” or the “Company”) today announced receipt of the final $1.5 mil
About this update from Vista Gold Corp
[{"type":"text","content":" DENVER, July 20, 2020 (GLOBE NEWSWIRE) -- Vista Gold Corp. (NYSE American and TSX: VGZ) (“Vista” or the “Company”) today announced receipt of the final $1.5 million payment (“Purchase Price Payment”) from Prime Mining Corp. (“Prime Mining”) and through its wholly-owned subsidiary, Minera Gold Stake, S.A. de C.V. (“MGS”), has executed a transfer agreement that assigns MGS’s legal title to the claims covering the Guadalupe de los Reyes gold / silver project to a subsidiary of Prime Mining. As previously announced on June 15, 2020 (see news release), Prime Mining is required to pay Vista an additional $2.1 million in lieu of being granted certain royalties and back-in rights: $1,100,000 no later than six months from receipt of the Purchase Price Payment; and $1,000,000 no later than twelve months from receipt of the Purchase Price Payment. If Prime Mining fails to make the two payments, Vista will have the right to reinstate its royalties and back-in rights. All dollar amounts in this press release are in U.S. dollars. About Vista Gold Corp. The Company is a gold project developer. The Company’s flagship asset is the Mt Todd gold project in Northern Territory, Australia. Mt Todd is the largest undeveloped gold project in Australia and if developed as presently designed, would potentially be Australia’s 6th largest gold producer on an annual basis. For further information about Vista or the Mt Todd Gold Project, please contact Pamela Solly, Vice President of Investor Relations, at (720) 981-1185 or visit the Company’s website at www.vistagold.com to access important information, including the current Technical Report. Forward Looking Statements This press release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933, as amended, and U.S. Securities Exchange Act of 1934, as amended, and forward-looking information within the meaning of Canadian securities laws. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that we expect or anticipate will or may occur in the future, including such things as our expectation that we will receive $1,100,000 no later than six months from the receipt of the Purchase Price Payment and $1,000,000 no later than twelve months from the receipt of the Purchase Price Payment, our ongo...