- Vista Gold (NYSE:VGZ) announces that the underwriters have agreed to increase the size of the previous public offering and purchase 12,272,730 units at $1.10/unit, for gross proceeds of ~$13.5M.
- Each unit consists of one common share and one-half of one common share purchase warrant.
- Underwriters' over-allotment is an additional 1,840,908 units.
- The thirty six months warrant will be exercisable at $1.25/share.
- Net proceeds will be used to advance programs at Mt Todd by further refining technical aspects of the project and securing a development partner.
- Closing date is July 12.
- Shares down 10.8% after-hours. Yesterday's close was $1.20.
- Previously (July 7): Vista Gold launches $8M bought deal offering