Vista Gold and Allied Nevada Announce Listing of New Shares
10 Mayo 2007 - 2:47PM
PR Newswire (US)
DENVER, May 10 /PRNewswire-FirstCall/ -- Vista Gold Corp.
(AMEX:VGZ) Toronto ("Vista") and Allied Nevada Gold Corp.
(AMEX:ANV) Toronto ("Allied Nevada") announce that the new common
shares of Vista and the shares of common stock of Allied Nevada
("Allied Nevada Shares") began trading today on the Toronto Stock
Exchange (the "TSX") and the American Stock Exchange (the "AMEX").
The listings on the TSX and the AMEX result from the completion of
the previously announced plan of arrangement involving Vista,
Allied Nevada and Carl and Janet Pescio that closed earlier today.
The completion of the transaction resulted in, among other things,
the transfer of Vista's Nevada properties to Allied Nevada.
Accordingly, shareholders should be aware that Vista no longer
holds any interest in these Nevada properties and trading in the
Vista shares on both exchanges is ex-distribution of the Allied
Nevada Shares distributed pursuant to the arrangement. As
previously announced, for each share of Vista that a shareholder
owned immediately prior to the effective time of the arrangement,
they will receive, subject to applicable withholding taxes (a) one
new share of Vista, (b) 0.794 of an Allied Nevada Share, and (c)
any payment they are entitled to receive in lieu of a fractional
share of Allied Nevada. The amount of any cash payment in lieu of a
fractional share is equal to the product of: (i) the fractional
interest; multiplied by (ii) US$5.00. About Vista Gold Corp. Since
2001, Vista has acquired a number of discovered gold projects with
the expectation that higher gold prices would significantly
increase their value. As gold prices have risen, Vista has
completed various preliminary evaluations that have confirmed that
some of the projects would be potentially viable operations at
today's gold prices. Currently, Vista is undertaking technical
programs to bring the most advanced projects to the point where
decisions can be made to put these projects into production, either
by Vista, or through sale or joint venture to other mining
companies. The Company's holdings include the Paredones Amarillos
and Guadalupe de los Reyes Projects in Mexico, Mt Todd Project in
Australia, Yellow Pine Project in Idaho, Awak Mas Project in
Indonesia, Long Valley Project in California, and the Amayapampa
Project in Bolivia. About Allied Nevada Gold Corp. Allied Nevada
has a large land position in Nevada, providing a strong platform
from which to aggressively pursue growth opportunities. Allied
Nevada has more than 250 square miles of exploration and
development properties, located in some of the most prolific gold
mining trends in the State of Nevada. Allied Nevada's seasoned
executive team is committed to the goal of maximizing the value of
the company and rewarding shareholders for their confidence in the
Allied Nevada business model. Allied Nevada's board of directors is
chaired by Robert Buchan and includes executives with experience in
legal, accounting, investment banking, exploration and operations.
For additional information on Allied Nevada, please refer to the
company's public filings available at
http://www.sec.gov/edgar.shtml and http://www.sedar.com/. Allied
Nevada is currently developing a website, which it expects to
launch shortly. Forward-Looking Statements This press release
contains forward-looking statements within the meaning of the U.S.
Securities Act of 1933 and U.S. Securities Exchange Act of 1934.
All statements, other than statements of historical facts, included
in this press release that address activities, events or
developments that Vista or Allied Nevada expects or anticipates
will or may occur in the future, including such things as future
business strategy, competitive strengths, goals, expansion and
growth of Vista's or Allied Nevada's businesses, operations, plans
and other such matters are forward-looking statements. When used in
this press release, the words "estimate", "plan", "anticipate",
"expect", "intend", "believe" and similar expressions are intended
to identify forward-looking statements. These statements involve
known and unknown risks, uncertainties and other factors which may
cause the actual results, performance or achievements of Vista and
Allied Nevada, including anticipated consequences of the
contemplated transaction described herein, to be materially
different from any future results, performance or achievements
expressed or implied by such forward-looking statements. Such
factors include, among others, risks that Vista's or Allied
Nevada's acquisition, exploration and property advancement efforts
will not be successful; risks relating to fluctuations in the price
of gold; the inherently hazardous nature of mining-related
activities; uncertainties concerning reserve and resource
estimates; potential effects on Vista's or Allied Nevada's
operations of environmental regulations in the countries in which
they operate; risks due to legal proceedings; and uncertainty of
being able to raise capital on favorable terms or at all; as well
as those factors discussed in Vista's latest Annual Report on Form
10-K and Quarterly Report on Form 10-Q, on Allied Nevada's Annual
Report on Form 10-K, and other documents filed with the U.S.
Securities and Exchange Commission. Although Vista and Allied
Nevada each has attempted to identify important factors that could
cause actual results to differ materially from those described in
forward-looking statements, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that such statements will prove to be accurate as
actual results and future events could differ materially from those
anticipated in such statements. Vista and Allied Nevada assume no
obligation to publicly update any forward-looking statements,
whether as a result of new information, future events or otherwise.
For further information on Vista, please contact Gregory G. Marlier
at (720) 981-1185, or visit the Vista Gold Corp. website at
http://www.vistagold.com/. For further information on Allied
Nevada, please contact Hal Kirby or Scott Caldwell at (775)
358-4455. DATASOURCE: Vista Gold Corp. CONTACT: Gregory G. Marlier
of Vista Gold Corp., +1-720-981-1185; or Hal Kirby or Scott
Caldwell, both of Allied Nevada Gold Corp., +1-775-358-4455 Web
site: http://www.vistagold.com/
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