Vista Gold Launches US$30M Share Offering with US$4.5M Overallotment Option
Vista Gold Corp has commenced an underwritten offering of US$30 million in common shares, with underwriters granted a 30-day option for up to US$4.5 million additional shares. Net proceeds will fund exploration and development at the Mt. Todd gold project in Australia’s Northern Territory and general corporate purposes.
1. Offering Details
Vista Gold Corp has commenced an underwritten public offering of US$30 million of its common shares, granting underwriters a 30-day option to purchase up to an additional US$4.5 million in shares to cover over-allotments.
2. Use of Proceeds
The company intends to allocate net proceeds to advance exploration and development activities at its Mt. Todd gold project in Australia’s Northern Territory, as well as for general corporate purposes.
3. Underwriting and Approval
CIBC Capital Markets is acting as sole bookrunner for the offering, which is subject to market conditions, Toronto Stock Exchange approval and other customary closing conditions.