Vista Gold Corp. (NYSE American:VGZ) (TSX: VGZ) is pleased to announce the closing of its previously announced public offering of 12,272,730 units of the Company at a public offering price of US$1.10 per Unit, less underwriting discounts and commissions, for aggregate gross proceeds of approximately US$13,500,000. Each Unit consists of one common share in the capital of the Company and one-half of one Common Share purchase warrant. Each Warrant is exercisable immediately upon issuance for thirty six months and entitle the holder thereof to purchase one Common Share upon exercise at an exercise price of US$1.25 per Common Share. In addition, the underwriter partially exercised its option to purchase an additional 920,454 Warrants.
H.C. Wainwright & Co. acted as sole book-running manager for the Offering. Haywood Securities Inc. and Roth Capital Partners acted as co-managers for the Offering.
The Company intends to allocate the net proceeds from the Offering to advance programs at Mt Todd by further refining technical aspects of the project, enhancing economic returns, and supporting the Company’s objective of securing a development partner. These programs may include additional drilling and technical reports supported by engineering/design work and other technical studies. Remaining proceeds will be used for working capital requirements and/or for other general corporate purposes, which include ongoing regulatory, legal and accounting expenses, management and administrative expenses, and other corporate initiatives.
A shelf registration statement on Form S-3 (File No. 333-239139) relating to the securities described above was filed with the U.S. Securities and Exchange Commission (the “SEC”) on June 12, 2020, and became effective on June 24, 2020 and an additional registration statement on Form S-3 filed pursuant to Rule 462(b) (File No. 333-257746), which became automatically effective on July 7, 2021. The offering was made only by means of a prospectus supplement and accompanying prospectus that form a part of the effective shelf registration statement. A final prospectus supplement and accompanying prospectus relating to the Offering were filed with the SEC and are available on the SEC’s website, located at www.sec.gov. Electronic copies of the final prospectus supplement and accompanying prospectus may also be obtained from H.C. Wainwright & Co., LLC, 430 Park Avenue, New York, NY 10022, by email at firstname.lastname@example.org or by phone at (212) 856-5711.
The Company filed a prospectus supplement with the securities regulatory authorities in each province of Canada (other than Quebec) to supplement the Company’s Canadian short form base shelf prospectus dated October 5, 2020.
Alternatively, a copy of the offering documents can be obtained by contacting the Company, attention: Pamela Solly, Vice President of Investor Relations, at (720) 981-1185, 7961 Shaffer Parkway, Suite 5, Littleton, Colorado 80127.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these 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.
About Vista Gold Corp.
Vista is a gold project developer. The Company’s flagship asset is the Mt Todd gold project located in the Tier 1, mining friendly jurisdiction of Northern Territory, Australia. Situated approximately 250 km southeast of Darwin, Mt Todd is the largest undeveloped gold project in Australia and, if developed as presently designed, would potentially be Australia’s fourth largest gold producer on an annual basis, with lowest tertile in-country and global all-in sustaining costs. All major operating and environmental permits have now been approved.
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We acknowledge the [financial] support of the Government of Canada.