By Sheri Kasprzak
New York, Aug. 26 - Vista Gold Corp. said it plans to raise $7,776,000 in a private placement.
The offering includes up to 2.16 million units at $3.60 each.
The units are comprised of one share and one warrant. The warrants are exercisable at $4.10 each for two years. The expiry of the warrants may be accelerated to 15 days if the company's stock trades above $5.40 per share for more than 20 consecutive trading days.
Proceeds from the offering will be used to acquire additional projects, maintain current projects and pay for administrative costs.
Based in Littleton, Colo., Vista is a gold project acquisition company.
Issuer: | Vista Gold Corp.
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Issue: | Units of one share and one warrant
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Amount: | $7,776,000 (maximum)
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Units: | 2.16 million (maximum)
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Price: | $3.60
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Warrants: | One warrant per unit
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Warrant expiration: | Two years
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Warrant strike price: | $4.10
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Pricing date: | Aug. 26
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Stock price: | $3.55 at close Aug. 26
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