Proceeds for technical evaluations, engineering studies at Mount Todd
By Devika Patel
Knoxville, Tenn., June 27 - Vista Gold Corp. said it has arranged a $15 million private placement of units.
The company will sell 5 million units of one common share and one half-share warrant at $3.00 per unit.
Each full two-year warrant will be exercisable at $3.60. The strike price reflects a 22.87% premium to the June 26 closing share price of $2.93.
Proceeds will be used for technical evaluations and engineering studies, exploration and resource conversion drilling and water treatment at the Mount Todd gold project and for general corporate purposes.
Based in Littleton, Colo., Vista is a gold exploration company.
| Issuer: | Vista Gold Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | $15 million
|
| Units: | 5 million
|
| Price: | $3.00
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration | Two years
|
| Warrant strike price: | $3.60
|
| Pricing date: | June 27
|
| Stock symbol: | NYSE: VGZ
|
| Stock price: | $2.93 at close June 26
|
| Market capitalization: | $207.92 million
|
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