DENVER, May 20
/PRNewswire-FirstCall/ -- Vista Gold Corp. ("Vista" or the
"Corporation") (TSX & NYSE Amex: VGZ) today announced that it has
closed its previously announced repurchase of an aggregate of US$5,667,000 in
principal amount of its 10% senior secured convertible notes (the
"Notes") due March 4, 2011 from a Noteholder, pursuant to the terms of
a repurchase agreement dated May 13, 2010 (the "Agreement").
Under the terms of the
Agreement, Vista paid the Noteholder US$2,232,798 in cash and 1,902,684 in
common shares in the capital of the Corporation in consideration for the Notes
and interest due to maturity. The common shares were issued at a price of
US$2.15 per share. Vista's weighted average price per share was US$2.32
on the NYSE Amex Equities Stock Exchange for the five trading days before the
execution of the Agreement.
The Notes repurchased by
Vista have been cancelled, and US$23 million principal amount of Notes remain
outstanding.
About Vista Gold Corp.
Vista is focused on the
development of the Paredones Amarillos gold project in Baja California Sur,
Mexico and the Mt. Todd gold project in Northern Territory, Australia to
achieve its goal of becoming a gold producer. Vista's other holdings include
the Guadalupe de los Reyes gold project in Mexico, the Yellow Pine gold project
in Idaho, the Awak Mas gold project in Indonesia, and the Long Valley gold
project in California. For more information about our projects, including
technical studies and resource estimates, please visit our website at www.vistagold.com.
The 1,902,684 common shares
of the Corporation issued pursuant to the terms of the Agreement have not been
and will not be registered under the United States Securities Act of 1933, as
amended, or any applicable state securities laws and may not be offered or sold
in the United States absent such registration or an applicable exemption from
such registration requirements. This press release does not constitute an
offer to sell or the solicitation of an offer to buy any securities.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of
the U.S. Securities Act of 1933, as amended, and U.S. Securities Exchange Act
of 1934, as amended, and forward-looking information within the meaning of
Canadian securities laws. All statements, other than statements of
historical facts, included in this press release that address activities,
events or developments that Vista expects or anticipates will or may occur in
the future are forward-looking statements and forward-looking information.
When used in this press release, the words "expect",
"intend", "hopes", "believe", "may",
"will", "if", "anticipates" and similar
expressions are intended to identify forward-looking statements and
forward-looking information. These statements involve known and unknown
risks, uncertainties and other factors which may cause the actual results,
performance or achievements of Vista to be materially different from any future
results, performance or achievements expressed or implied by such statements.
Such factors include, among others, risks of shortages and fluctuating
costs of equipment or supplies, risks relating to fluctuations in the price of
gold, the inherently hazardous nature of mining-related activities, potential
effects on Vista's operations of environmental regulations in the countries in
which it operates, risks due to legal proceedings, risks relating to political
and economic instability in certain countries in which it operates, risks
related to repayment of debt, risks related to increased leverage and
uncertainty of being able to raise capital on favorable terms or at all; as
well as those factors discussed under the headings "Uncertainty of Forward-Looking
Statements" and "Risk Factors" in Vista's latest Annual Report
on Form 10-K as filed on March 16, 2010, and Vista's latest Quarterly Report on
Form 10-Q and other documents filed with the U.S. Securities and Exchange
Commission and Canadian securities regulatory authorities. Although Vista
has attempted to identify important factors that could cause actual results to
differ materially from those described in forward-looking statements and
forward-looking information, there may be other factors that cause results not
to be as anticipated, estimated or intended. Except as required by law,
Vista assumes no obligation to publicly update any forward-looking statements
or forward-looking information, whether as a result of new information, future
events or otherwise.
For further information, please contact Connie Martinez at (720) 981-1185,
or visit the Vista Gold Corp. website at www.vistagold.com.
CONTACT: Connie Martinez, +1-720-981-1185, for Vista Gold Corp.