Lender receives 125,798 Vista shares at closing, C$100,000 in cash
By Angela McDaniels
Tacoma, Wash., March 28 - Vista Gold Corp. said it closed and drew a C$10 million loan facility with Sprott Resources Lending Partnership that provides the company with funding to continue its evaluation of its Mt. Todd gold project in Australia.
The loan bears interest at 8% and matures March 28, 2014. The maturity date can be extended to March 28, 2015 at Vista's request subject to the payment of a 3.5% extension fee.
The loan is prepayable provided that at least four months of interest has been paid.
The lender received a 3.5% fee at closing including C$100,000 in cash and 125,798 Vista shares.
Vista is an exploration-stage gold miner based in Denver.
| Issuer: | Vista Gold Corp.
|
| Issue: | Loan facility plus 125,798 shares
|
| Amount: | C$10 million
|
| Maturity: | March 28, 2014; may be extended to March 28, 2015 subject to 3.5% fee
|
| Coupon: | 8%, payable monthly
|
| Warrants: | No
|
| Investor: | Sprott Resources Lending Partnership
|
| Settlement date: | March 28
|
| Stock symbol: | Toronto: VGZ
|
| Stock price: | C$2.17 at close March 28
|
| Market capitalization: | C$176.99 million
|
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