Vista Gold Corp. Announces Public Offering of Common Shares
October 04 2006 - 6:59PM
PR Newswire (US)
DENVER, Oct. 4 /PRNewswire-FirstCall/ -- Vista Gold Corp. (Amex:
VGZ; TSX)(the "Company") announced today that it intends to file a
preliminary prospectus supplement with the Securities and Exchange
Commission (the "SEC") in connection with a proposed public
offering (the "Offering"), subject to market and other conditions,
of up to 4,000,000 of its common shares on a best efforts agency
basis, and also will file a preliminary prospectus supplement to
its existing US$32 million short form base shelf prospectus dated
October 2, 2006 with the securities regulatory authorities in the
provinces of British Columbia, Alberta, Manitoba and Ontario in
connection with the Offering. The Company anticipates that Offering
will consist of a minimum of US$25 million and a maximum of US$32
million in common shares of the Company. The Company expects to use
the proceeds of the Offering to finance the previously-announced
transaction involving the transfer of the Company's Nevada based
properties into a new publicly-listed company and the acquisition
by that new company of the Nevada based mining assets of Carl and
Janet Pescio, and for general working capital and general corporate
purposes. Sprott Securities Inc. will act as lead agent in respect
of the Offering. These shares will be issued pursuant to an
effective shelf registration statement. This press release shall
not constitute an offer to sell or a solicitation of an offer to
buy common shares nor shall there be any sale of such securities in
any state or jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction. Any offer, if at
all, will be made only by means of a prospectus forming part of the
effective registration statement and an accompanying prospectus
supplement. Copies of the preliminary prospectus supplements, once
filed, and the base shelf prospectuses may be obtained from Sprott
Securities Inc. (attn: Susan Samila-Moroz), Suite 2800, South
Tower, Royal Bank Plaza, Toronto, Ontario, M5J 2J2, Tel# (416)
943-6401 and Fax # (416) 943-6496. When a prospectus supplement
relating to the Offering has been filed with the SEC, it will be
available along with the base prospectus filed with the SEC in
connection with the shelf registration, on the SEC's website at
http://www.sec.gov/. Copies of any prospectus supplements filed
with the securities regulatory authorities in Canada will be
available, along with the Canadian base shelf prospectus, on the
internet at http://www.sedar.com/. About Vista Gold Corp. Vista
Gold Corp., based in Littleton, Colorado, evaluates and acquires
gold projects with defined gold resources. Additional exploration
and technical studies are undertaken to maximize the value of the
projects for eventual development. The Corporation's holdings
include the Maverick Springs, Mountain View, Hasbrouck, Three
Hills, Wildcat projects, the F.W. Lewis, Inc. properties and the
Hycroft mine, all in Nevada, the Long Valley project in California,
the Yellow Pine project in Idaho, the Paredones Amarillos and
Guadalupe de Los Reyes projects in Mexico, the Mt. Todd project in
Australia, the Amayapampa project in Bolivia and the Awak Mas
project in Indonesia. Forward-Looking Statements This press release
contains forward-looking statements within the meaning of the U.S.
Securities Act of 1933 and U.S. Securities Exchange Act of 1934.
All statements, other than statements of historical facts, included
in this press release that address activities, events or
developments that Vista expects or anticipates will or may occur in
the future, including those relating to the proposed equity
financing by Vista, are forward-looking statements. The timing,
occurrence and results of events could differ materially from those
anticipated in the forward-looking statements as a result of risks
and uncertainties, which include, without limitation, capital
market conditions, risks relating to fluctuations in the price of
gold and uncertainties concerning reserve and resource estimates,
as well as those factors discussed in Vista's latest Annual Report
on Form 10-K and Quarterly Report on Form 10-Q and other documents
filed with the U.S. Securities and Exchange Commission. Although
Vista has attempted to identify important factors that could cause
actual results to differ materially from those described in
forward-looking statements, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that such statements will prove to be accurate as
actual results and future events could differ materially from those
anticipated in such statements. Vista assumes no obligation to
publicly update any forward-looking statements, whether as a result
of new information, future events or otherwise. For further
information, please contact Greg Marlier at (720) 981-1185, or
visit the Vista Gold Corp. website at http://www.vistagold.com/.
DATASOURCE: Vista Gold Corp. CONTACT: Greg Marlier of Vista Gold
Corp., +1-720-981-1185 Web site: http://www.vistagold.com/
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