DENVER, July 11, 2014 /CNW/ -- Vista Gold Corp.
(the "Company," "we" or "our") (NYSE MKT and TSX: VGZ) is
pleased to announce that it filed a final short form base shelf
prospectus with the securities commissions in each province and
territory of Canada (other than
Quebec) (the "Canadian
Prospectus") and an amendment to its shelf registration
statement on Form S-3 filed with the United States Securities and
Exchange Commission (collectively, the "Offering
Documents"). The Canadian Prospectus was filed to replace
Vista's prior Canadian short form base shelf prospectus that
expired last quarter. Vista's current shelf registration
statement on Form S-3 expires next year and will not be affected by
the filing of this separate shelf registration statement on Form
S-3. The Company has no current intention to immediately sell
securities under the Offering Documents. This preserves
Vista's ability to complete future financings for corporate growth
and development in an efficient and flexible manner, if appropriate
at the time.
The Offering Documents, if and when brought effective, allow
Vista to make offerings of common shares, warrants, subscription
receipts or units for aggregate proceeds of up to US$50 million during the next three years to
potential purchasers in the United
States and during the next 25 months to potential purchasers
in each province and territory of Canada (other than Quebec).
As previously announced, Vista currently anticipates using any
proceeds from the sale of securities under the Offering Documents,
if any, to fund the development of existing or acquired mineral
properties, property acquisitions, working capital requirements, to
repay indebtedness outstanding from time to time, if any, or for
other general corporate purposes.
Frederick H. Earnest, President
and Chief Executive Officer commented, "We have brought our costs
down dramatically over the past year, and are prepared to keep our
costs at these current levels as we wait for the markets to
improve. Until then, we will continue to give priority to
financing through non-dilutive means, such as the sale of non-core
assets. Prudent business practice dictates that we maintain the
flexibility that these shelf filings afford us, although our
history shows that we use them sparingly."
The terms of any securities offered under the Offering Documents
and the intended use of the net proceeds resulting from such
offering will be established at the time of any offering and will
be described in a prospectus supplement filed with the United
States Securities and Exchange Commission and the applicable
Canadian securities regulatory authorities at the time of the
offering. After the registration statement becomes effective,
a copy of the Offering Documents and, at the time of an offering,
if any, a prospectus supplement relating to the offering under the
Offering Documents, when available, can be obtained by contacting
Vista, attention: Connie Martinez at
(720) 981-1185, Suite 5, 7961 Shaffer Parkway, Littleton, Colorado 80127.
About Vista Gold
Vista's principal assets include its flagship Mt Todd gold
project in Northern Territory, Australia, and an 11.2% holding in Midas. We
also have non-core projects in Mexico and California and royalty interests in projects
in Bolivia and Indonesia.
For more information about our projects, including technical
studies and resource estimates, please visit our website at
www.vistagold.com.
For further information, please contact Connie Martinez at (720) 981-1185.
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, the future effectiveness of the prospectus and the registration
statement, the completion of future financings, the use of proceeds
from such financings and the growth and development of Vista,
keeping Vista's costs at current levels until markets improve, the
priority on financing through non-dilutive means (including through
the sale of non-core assets) and other such matters are
forward-looking statements and forward-looking information.
The material factors and assumptions used to develop the
forward-looking statements and forward-looking information
contained in this press release include the following: our approved
business plans, exploration and assay results, mineral resource and
reserve estimates and results of preliminary economic assessments,
pre-feasibility studies and feasibility studies on our projects, if
any. When used in this press release, the words "optimistic,"
"potential," "indicate," "expect," "intend," "hopes," "believe,"
"may," "will," "if," "anticipate," and similar expressions are
intended to identify forward-looking statements and forward-looking
information. These statements involve known and unknown
risks, uncertainties and other factors which may cause the actual
results, performance or achievements of the Company to be
materially different from any future results, performance or
achievements expressed or implied by such statements. Such
factors include, among others, uncertainty of resource and reserve
estimates, uncertainty as to the Company's future operating costs
and ability to raise capital; risks relating to cost increases for
capital and operating costs; risks of shortages and fluctuating
costs of equipment or supplies; risks relating to fluctuations in
the price of gold; the inherently hazardous nature of
mining-related activities; potential effects on our operations of
environmental regulations in the countries in which it operates;
risks due to legal proceedings; risks relating to political and
economic instability in certain countries in which it operates; as
well as those factors discussed under the headings "Note Regarding
Forward-Looking Statements" and "Risk Factors" in the Company's
latest Annual Report on Form 10-K as filed on March 17, 2014 and other documents filed with the
U.S. Securities and Exchange Commission and Canadian securities
regulatory authorities. Although we have attempted to
identify important factors that could cause actual results to
differ materially from those described in forward-looking
statements and forward-looking information, there may be other
factors that cause results not to be as anticipated, estimated or
intended. Except as required by law, we assume no obligation
to publicly update any forward-looking statements or
forward-looking information; whether as a result of new
information, future events or otherwise.
SOURCE Vista Gold Corp.