18:28:00 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Vista Gold Corp (2)
Symbol VGZ
Shares Issued 82,904,132
Close 2016-08-02 C$ 2.04
Market Cap C$ 169,124,429
Recent Sedar Documents

Vista Gold arranges $15-million (U.S.) bought deal

2016-08-02 17:31 ET - News Release

An anonymous director reports

VISTA GOLD CORP. ANNOUNCES US$15 MILLION BOUGHT DEAL OFFERING OF UNITS

Vista Gold Corp. has entered into an underwriting agreement with a syndicate of underwriters led by Cantor Fitzgerald Canada Corp. and Rodman & Renshaw, a unit of H.C. Wainwright & Co. LLC, acting as co-lead underwriters and joint bookrunning managers, and representatives of the underwriters named therein, under which the underwriters have agreed to buy on an underwritten basis 10.75 million units, each unit consisting of one common share and one-half of one common share purchase warrant, at a price of $1.40 (U.S.) per unit for gross proceeds of $15.05-million (U.S.). Each warrant will be exercisable for 36 months following the closing date and will entitle the holder thereof to purchase one share upon exercise at an exercise price of $1.92 (U.S.) per share, subject to adjustment.

The company has granted the underwriters an option, exercisable in whole or in part, to purchase up to an additional 15 per cent of the units issued under the offering to cover overallotments, if any, and for market stabilization purposes.

The offering is expected to close on or about Aug. 8, 2016, subject to obtaining customary Toronto Stock Exchange and NYSE MKT approvals.

The company intends to allocate the net proceeds from the offering to pursue completion of the permitting, and to perform selected technical studies that the company believes will further derisk the Mt. Todd gold project, enhance the economics of Mt. Todd, and prepare it for development if and when economic conditions warrant. Remaining proceeds will be used for working capital requirements and for other general corporate purposes, which include continuing regulatory, legal and accounting expenses, management and administrative expenses, and other corporate initiatives.

The company will file a prospectus supplement with the securities commissions in each province and territory of Canada (other than Quebec) to supplement the company's Canadian short form base shelf prospectus dated July 11, 2014, and the company will file a prospectus supplement to the company's current shelf registration statement on Form S-3, effective Aug. 15, 2014, with the United States Securities and Exchange Commission, in connection with the offering for which this communication relates. The offering documents will contain important detailed information about the securities being offered.

Before you invest, you should read the offering documents and other documents that the company has filed with the SEC for more complete information about the company and the offering. Copies of the underwriting agreement and the offering documents will be available for free by visiting the company's profiles on SEDAR and EDGAR, as applicable.

Alternatively, a copy of the offering documents can be obtained by contacting the company, attention Connie Martinez, at 720-981-1185, Suite 5, 7961 Shaffer Parkway, Littleton, Colo., 80127, or by contacting any underwriter or any dealer participating in the offering at Cantor Fitzgerald Canada Corp., attention Equity Capital Markets, 181 University Ave., Suite 1500, Toronto, Ont., M5H 3M7, or by e-mail, or Rodman & Renshaw, a unit of H.C. Wainwright & Co. LLC, 430 Park Ave., New York, N.Y., 10022, or by e-mail.

We seek Safe Harbor.

© 2024 Canjex Publishing Ltd. All rights reserved.