Key Developments: Vista Gold Corp (VGZ)
1.18USD
19 Jun 2013
$-0.04 (-3.28%)
$1.22
$1.23
$1.27
$1.18
386,142
415,945
$4.09
$1.13
Latest Key Developments (Source: Significant Developments)
Vista Gold Corp Announces $10 Million Loan Facility With Sprott Resources Lending Partnership
Vista Gold Corp announced that it has closed and drawn a $10 million loan facility (the Facility) with Sprott Resources Lending Partnership (the Lender) that provides the Company with funding to continue its evaluation of its Mt. Todd gold project in Northern Territory, Australia. Full Article
Vista Gold Corp Announces Closing Of Public Offering Of Units
Vista Gold Corp announced the closing of its previously announced public offering of 4,182,550 units, which includes 545,550 units issued pursuant to the full exercise of the underwriters' over-allotment option. The units were offered at a price to the public of US$2.75 per unit. Each unit is comprised of one common share of the Company and one-half of one common share purchase warrant, with each whole warrant exercisable to purchase one common share of the Company's stock at a price of US$3.30 for a period of 24 months from the closing of this offering. The Company will not apply for the listing of the warrants on any stock exchange. The gross proceeds of the offering, before expenses, were US$11,502,013. The Company intends to use the net proceeds of the offering to advance our Mt. Todd gold project in Australia, including completing a bankable feasibility study, for corporate administration, to complete a preliminary economic assessment on our Guadalupe de los Reyes gold/silver project in Mexico, and for working capital requirements and general corporate purposes. Dahlman Rose & Company, LLC and National Bank Financial Inc. acted as joint book-running managers for the offering and Casimir Capital L.P. acted as co-manager for the offering. Full Article
Vista Gold Corp Prices Public Offering of Units
Vista Gold Corp announced that it has priced an underwritten public offering of approximately 3.6 million units at a price to the public of USD2.75 per unit. Each unit is comprised of one common share of the Company and one-half of one common share purchase warrant, with each whole warrant exercisable to purchase one common share of the Company's stock at an exercise price of USD3.30 for a period of 24 months from the closing of this offering. The warrants will not be listed on any stock exchange. The Company expects that the offering will yield gross proceeds, before expenses, of USD10.0 million and intends to use the net proceeds of the offering to advance our Mt. Todd gold project in Australia, including completing a bankable feasibility study, for corporate administration, to complete a preliminary economic assessment on our Guadalupe de los Reyes gold/silver project in Mexico, and for working capital requirements and general corporate purposes. The offering is expected to close on or about December 21, 2012, subject to customary closing conditions, including the approval of the Toronto Stock Exchange and the NYSE MKT. Dahlman Rose & Company, LLC and National Bank Financial Inc. are acting as joint book-running managers for the offering and Casimir Capital L.P. is acting as co-manager, pursuant to the terms of an underwriting agreement entered into with the Company. Full Article
Vista Gold Corp. Closes Private Placement Financing
Vista Gold Corp. announced that it has closed its previously announced private placement of units (the Units). The Company completed the sale of 5,000,000 Units for gross proceeds of USD15,000,000 (the Offering). Each Unit consists of one common share in the capital of the Company (a Common Share) and one-half of one Common Share purchase warrant (each full warrant, a Warrant). Each Warrant entitles the holder thereof to purchase one Common Share at a price of USD3.60 until July 27, 2014. The net proceeds from the Offering will be used for ongoing technical evaluations and engineering studies, exploration/resource conversion drilling and water treatment at the Mt. Todd gold project in Northern Territory, Australia and for general corporate purposes. Full Article
Vista Gold Corp. Announces USD15.0 Million Private Placement Of Units
Vista Gold Corp. announced that it intends to undertake a private placement financing to raise gross proceeds of up to USD15.0 million from the sale of up to 5,000,000 units (Units) at an offering price of USD3.00 per Unit (Offering). Each Unit will be comprised of one common share in the capital of the Company (Common Share) and one-half of one Common Share purchase warrant (each full warrant, a Warrant). Each Warrant will entitle the holder to purchase one Common Share at a price of USD3.60 per share and will be exercisable for a period of 24 months from the closing date of the Offering. In connection with the Offering, the Company has agreed to pay finders' fees in respect of subscriptions for up to 3,333,334 Units. Each finder will receive a cash commission of 5% of the gross proceeds raised from the Units purchased by investors introduced to the Company by that finder; and warrants (Compensation Warrants) equal to 5% of the Units purchased by investors introduced to the Company by that finder. Each Compensation Warrant will entitle the holder to purchase one Common Share at a price of USD3.18 and shall be exercisable for a period of 24 months from the date of the closing of the Offering. The net proceeds from the sale of Units will be used for ongoing technical evaluations/engineering studies, exploration/resource conversion drilling and water treatment at the Mt. Todd gold project in Northern Territory, Australia and for general corporate purposes. Full Article
Vista Gold Corp. Announces Appointment of John F. Engele as Sr. Vice President, CFO
Vista Gold Corp. announced the appointment of John F. (Jack) Engele as Sr. Vice President - Chief Financial Officer (CFO) of the Company. Ms. Terri Eggert, Interim Chief Financial Officer, will continue with the Company for a short period to ensure a smooth transition. Full Article
Vista Gold Corp. Announces Filing of Preliminary Short Form Base Shelf Prospectus and Registration Statement
Vista Gold Corp. announced that it filed a preliminary short form base shelf prospectus with the securities commissions in each province and territory of Canada (other than Quebec) and a corresponding shelf registration statement on Form S-3 with the United States Securities and Exchange Commission (collectively, the Offering Documents). The Offering Documents were filed to replace Vista's prior Canadian short form base shelf prospectus that expired last year and Vista's current shelf registration statement on Form S-3 that expires in the second quarter of this year. The Offering Documents, if and when brought effective, will allow Vista to make offerings of common shares, warrants, subscription receipts or units for aggregate proceeds of up to USD200 million during the next 25 months to potential purchasers in each province and territory of Canada (other than Quebec) and the United States. The authorized amount of aggregate proceeds is the same as the proceeds authorized under Vista's prior Canadian short form base shelf prospectus and Vista's current shelf registration statement on Form S-3. 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 and may also use such funds for acquisitions, working capital requirements, to repay indebtedness outstanding from time to time or for other general corporate purposes. Full Article
Vista Gold Corp. Announces Transaction With Invecture Group to Advance the Concordia Gold Project in Mexico
Vista Gold Corp. announced it has entered into an Earn-in Right Agreement with Mexico-based Invecture Group, S.A. de C.V. with respect to Vista's Concordia gold project in Baja California Sur, Mexico. Invecture is the owner of Frontera Copper Corporation, which owns and operates the Piedras Verdes Copper Mine in the Mexican State of Sonora. Vista holds the Concordia gold project through its wholly-owned, Mexican subsidiary, Desarrollos Zapal, S.A. de C.V. (DZ Mexico). Under the terms of the Agreement, Invecture has agreed to make a non-refundable payment of USD2.0 million in exchange for the right to earn a 60% interest in DZ Mexico . The Earn-in Right will expire if not exercised by February 7, 2014. The Agreement provides that during the Earn-in Period, Invecture will, at its sole expense, manage and operate the Concordia gold project and will undertake all commercially reasonable efforts to obtain the Change of Forest Land Use Permit (CUSF) and the Authorization of Environmental Impact which are required to develop the project. Invecture has advised that it will secure USD70.0 million in project debt finance to construct the Concordia gold project after it has exercised the Earn-in Right and after a project development decision has been made. Once Invecture has earned its interest in the Concordia gold project, the parties have agreed to evaluate market conditions with regard to the future organization and ownership structure of DZ Mexico. Full Article
Vista Gold Corp. Announces Retirement Of Michael B. Richings And Appointment Of Frederick H. Earnest As Chief Executive Officer
Vista Gold Corp. announced that effective January 1, 2012, Frederick H. Earnest, President and Chief Operating Officer of the Corporation was appointed to the role of Chief Executive Officer. Mr. Earnest's new title will be President and Chief Executive Officer of the Corporation. Mr. Earnest's appointment follows the retirement of Michael B. Richings as Executive Chairman and Chief Executive Officer. Mr. Richings will continue to be actively involved with Vista in his role as a director and the Chairman of the Board of Directors. Full Article
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