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.