Vista Gold Corp. (AMEZ: VGZ) said Tuesday it will sell 8 million shares of common stock in a public offering.
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Vista Gold said it intends to use the proceeds to fund drilling and exploration on its Mt. Todd project, its Paredones Amarillos project and work on its Guadalupe de los Reyes project. It will also use the money to fund acquisitions and development of mineral properties, for working capital and general corporate expenses.
The underwriters will have the option to buy an additional 1.2 million shares to cover any overallotments. Dahlman Rose & Co. and Wellington West Capital Markets Inc. are joint book-runners.
The company currently has about 34.5 million shares outstanding.
Vista Gold shares fell a penny to close at $2.41 on Tuesday.
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