Vista Gold Corp. Announces US$8 Million Bought Deal Offering
__________________ NEWS _________________
Vista Gold Corp. Announces US$8 Million Bought Deal Offering
Denver, Colorado, (July 7, 2021) - Vista Gold Corp. (NYSE American and TSX: VGZ) (“Vista” or the
“Company”) is pleased to announce that it has entered into an underwriting agreement with a syndicate of
underwriters with H.C. Wainwright & Co. acting as sole book-running manager and representative of the
underwriters, under which the underwriters have agreed to purchase in a public offering on a firm commitment
basis 7,272,728 units of the Company (the “ Units”) at a public offering price of US$1.10 per Unit, less
underwriting discounts and commissions, for aggregate gross proceeds of approximately US$8,000,000 (the
“Offering”). Each Unit consists of one common share in the capital of the Company (each, a “ Common Share”)
and one-half of one Common Share purchase warrant (each whole warrant, a “ Warrant”). Each Warrant will be
exercisable immediately upon issuance for thirty six months and entitle the holder thereof to purchase one
Common Share upon exercise at an exercise price of US$1.25 per Common Share.
H.C. Wainwright & Co. is acting as sole book-running manager for the Offering. Haywood Securities Inc. is acting
as co-manager for the Offering.
In addition, the Company has granted the underwriters an option, exercisable at any time and from time to time for
up to 30 days, to purchase up to an additional 1,090,908 Units, and/or 1,090,908 Common Shares and/or Warrants
to purchase up to 545,454 Common Shares at the public offering price per Unit, per Common Share and/or per
Warrant, respectively, less underwriting discounts and commissions, in any combination thereof so long as the
aggregate number of additional Common Shares and additional Warrants that may be issued under the option does
not exceed 1,090,908 additional Common Shares and 545,454 additional Warrants.
The Offering is expected to close on or about July 12, 2021, subject to the satisfaction of customary closing
conditions, including TSX and NYSE American approvals. For the purposes of the TSX approval, the Company
intends to rely on the exemption set forth in Section 602.1 of the TSX Company Manual, which provides that the
TSX will not apply its standards to certain transactions involving eligible interlisted issuers on a recognized
exchange, such as NYSE American.
The Company intends to allocate the net proceeds from the Offering to advance programs at Mt Todd by further
refining technical aspects of the project, enhancing economic returns, and supporting the Company’s objective of
securing a development partner. These programs may include additional drilling and technical reports supported by
engineering/design work and other technical studies. Remaining proceeds will be used for working capital
requirements and/or for other general corporate purposes, which include ongoing regulatory, legal and accounting
expenses, management and administrative expenses, and other corporate initiatives.
A shelf registration statement on Form S-3 (File No. 333-239139) relating to the securities described above was
filed with the U.S. Securities and Exchange Commission (the “SEC”) on June 12, 2020, and became effective on
June 24, 2020 and an additional registration statement on Form S-3 filed pursuant to Rule 462(b) (File No. 333-
257746), which became automatically effective on July 7, 2021. The offering will be made only by means of a
prospectus supplement and accompanying prospectus that form a part of the effective shelf registration statement.
A preliminary prospectus supplement and accompanying prospectus relating to the Offering have been filed with
the SEC and will be available on the SEC's website, located at www.sec.gov. Electronic copies of the preliminary
prospectus supplement and accompanying prospectus, and the final prospectus supplement and accompanying
prospectus relating to the Offering, when filed, may also be obtained from H.C. Wainwright & Co., LLC, 430 Park
Avenue, New York, NY 10022, by email at [email protected] or by phone at (212) 856-5711.
Trading Symbol: VGZ
NYSE American and TSX Stock Exchanges
7961 Shaffer Parkway
Suite 5
Littleton, CO 80127
Phone: 720-981-1185
Fax: 720-981-1186
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The Company will file a prospectus supplement with the securities regulatory authorities in each province of
Canada (other than Quebec) to supplement the Company’s Canadian short form base shelf prospectus dated
October 5, 2020. Before you invest, you should read the offering documents and other documents that the
Company has filed with the Canadian securities regulatory authorities for more complete information about the
Company and the Offering. A copy of the underwriting agreement will be available for free by visiting the
Company’s profiles on SEDAR at www.sedar.com.
Alternatively, a copy of the offering documents can be obtained by contacting the Company, attention: Pamela
Solly, Vice President of Investor Relations, at (720) 981-1185, 7961 Shaffer Parkway, Suite 5, Littleton, Colorado
80127.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, 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 such state or jurisdiction.
About Vista Gold Corp.
Vista is a gold project developer. The Company’s flagship asset is the Mt Todd gold project located in the Tier 1,
mining friendly jurisdiction of Northern Territory, Australia. Situated approximately 250 km southeast of Darwin,
Mt Todd is the largest undeveloped gold project in Australia and, if developed as presently designed, would
potentially be Australia’s fourth largest gold producer on an annual basis, with lowest tertile in-country and global
all-in sustaining costs. All major operating and environmental permits have now been approved.
For further information, please contact Pamela Solly, Vice President of Investor Relations, at (720) 981-1185.
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 we expect or anticipate will or may occur in the future,
including such things as statements with respect to the expected closing date of the Offering, the use of proceeds
from the Offering and our intent to file the Offering Documents; our belief that Mt Todd is the largest undeveloped
gold project in Australia; our expectation that Mt Todd will be Australia’s fourth largest gold producer on an
annual basis, with lowest tertile in-country and global all-in sustaining costs; other anticipated mine development
and operating costs and results at Mt Todd, and other such matters are forward-looking statements and forward-
looking information. The material factors and assumptions used to develop the forward-looking statements and
forward-looking information contained in this press release include the following: our understanding and belief of
the current market conditions, approved business plans, exploration and assay results, results of our test work for
process area improvements, mineral resource and reserve estimates and results of preliminary economic
assessments, prefeasibility studies and feasibility studies on our projects, if any, our experience with regulators,
and positive changes to current economic conditions and the price of gold. When used in this press release or
otherwise, the words “optimistic,” “potential,” “indicate,” “expect,” “intend,” “hopes,” “believe,” “may,” “will,”
“if,” “anticipate,” 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 the Company to be materially different from any future results,
performance or achievements expressed or implied by such statements. Such factors include, among others, our
ability to satisfy the conditions to closing of the Offering and to use the proceeds from the Offering as expected,
uncertainty of mineral resource and reserve estimates, uncertainty as to the Company’s future operating costs and
ability to raise capital; whether potential partners exist and what views they may have regarding any transaction
terms and expeditious development of the Mt. Todd project; risks relating to cost increases for capital and
operating costs; 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; whether anticipated gold recoveries
and production would be achieved; potential effects on our operations of environmental regulations in the
countries in which we operate; risks due to legal proceedings; risks relating to political and economic instability in
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certain countries in which we operate; uncertainty as to the results of bulk metallurgical test work; and uncertainty
as to completion of critical milestones for Mt Todd; as well as those factors discussed under the headings “Note
Regarding Forward-Looking Statements” and “Risk Factors” in the Company’s latest Annual Report on Form 10-
K and other documents filed with the U.S. Securities and Exchange Commission and Canadian securities
regulatory authorities. Although we have 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, we
assume no obligation to publicly update any forward-looking statements or forward-looking information; whether
as a result of new information, future events or otherwise.