Vista Gold Closes Public Offering of 17.94 Million Shares, Raising $44.85 Million
Vista Gold announced the closing of its previously announced underwritten public offering of 17,940,000 of its common shares, which includes the full exercise of the underwriters' option to purchase 2,340,000 additional common shares, at a price to the public of $2.50 per share. The total gross proceeds to Vista were $44.85M, before deducting underwriting discounts and commission and other offering expenses payable by Vista. The company intends to allocate the net proceeds from the offering to advance exploration and development activities at the company's Mt. Todd gold project, a development-stage gold deposit in Australia's Northern Territory, and for general corporate purposes. CIBC Capital Markets acted as the sole bookrunner for the offering and BMO Capital Markets, Raymond James, H.C. Wainwright & Co. and Tamesis Partners acted as co-managers for the offering.
