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DENVER, March 16, 2011 /PRNewswire/ -- Vista Gold Corp. ("Vista" or the "Company") (NYSE Amex and TSX: VGZ) announces that on March 15, 2011 it filed a resale registration statement on Form S-3 with the United States Securities and Exchange Commission (the "SEC"). The registration statement registers for resale common shares, warrants and common shares acquirable upon the exercise of warrants (collectively, the "securities") held by certain securityholders named in the registration statement. The selling securityholders are under no obligation to sell the securities. The registration statement also registers the issuance by us of common shares underlying the warrants by holders that purchase the warrants pursuant to the resale registration statement, if and when it becomes effective. We will not receive any proceeds from the resale of the securities, other than proceeds relating to the exercise of warrants, if those warrants are exercised.
Vista agreed to file the resale registration statement pursuant to the terms of the October 22, 2010 private placement of 14,666,739 special warrants ("Special Warrants"). The Special Warrants were issued to the selling securityholders at a purchase price of $2.30 per Special Warrant for aggregate gross proceeds to the Company of $33,733,500. Following approval of the private placement by the Company's shareholders at a special meeting held on December 15, 2010, each Special Warrant was automatically exercised, for no additional consideration, for one common share of the Company and one common share purchase warrant. In addition, the Company issued a total of 641,305 Special Warrants and 630,436 compensation warrants to the agents and finders that provided services to the Company in connection with the private placement.
A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time a registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state or jurisdiction. The prospectus contained in registration statement is available online at
