Sun Valley Gold LLC

April 21, 2011 18:01 ET

Sun Valley Gold: Control and Direction Over Common Shares of Vista Gold Corp.

SUN VALLEY, IDAHO--(Marketwire - April 21, 2011) -Sun Valley Gold LLC ("Sun Valley") announced today that it has, on behalf of client accounts over which it has discretionary trading authority, acquired control and direction over 6,060,000 common shares ("Common Shares") of Vista Gold Corp. ("Vista Gold"). The Common Shares, which are beneficially owned by Sun Valley's clients, were acquired on April 20, 2011 as part of a public offering by Vista Gold (the "Offering") of a total of 9,000,000 Common Shares for a subscription price of $3.30 per share.

Following the completion of the Offering, Sun Valley exercises control and direction over an aggregate of 8,233,913 Common Shares and 2,173,913 common share purchase warrants ("Warrants") on behalf of client accounts over which it has discretionary trading authority. The 8,233,913 Common Shares over which Sun Valley exercises control and direction represent approximately 11.61% of Vista Gold's issued and outstanding Common Shares. If exercised, the 2,173,913 Warrants over which Sun Valley exercises control and direction would, together with the 8,233,913 Common Shares over which Sun Valley exercises control and direction, represent approximately 14.24% of Vista Gold's issued and outstanding Common Shares (after giving effect to the exercise of such Warrants, but not the exercise of any other convertible securities issued by Vista Gold).

The Common Shares were acquired for investment purposes. Sun Valley and its clients may increase or decrease their ownership of securities of Vista Gold depending upon future market conditions.

FOR FURTHER INFORMATION, OR TO OBTAIN A COPY OF THE EARLY WARNING REPORT FILED BY SUN VALLEY UNDER APPLICABLE SECURITIES LEGISLATION, PLEASE SEE THE CONTACT INFORMATION.

Contact Information

  • Sun Valley Gold LLC
    Linda J. Kish
    Chief Legal Officer
    (208) 726-2327
    (208) 726-0842