News Column

Vista Gold Completes Sale of 16 Million Shares of Midas Gold

February 20, 2014

Vista Gold Corp. announced that it has completed the previously announced sale of 16,000,000 common shares of Midas Gold Corp. for gross proceeds of Cdn$12.8 million.

In a release on Feb. 14, the Company said that as required under the terms of its loan facility granted by Sprott Resource Lending Partnership, the Company used proceeds to pay down its loan by approximately Cdn$5.5 million, resulting in an outstanding balance of approximately US$1.7 million. The remainder of the proceeds will be used for general corporate purposes.

Vista currently holds, directly and indirectly through Vista US, an aggregate of 15,802,615 common shares of Midas, representing approximately 12.4 percent of the outstanding common shares of Midas. Vista has agreed not to sell any of these shares of Midas for a period of 12 months.

Vista's principal assets include its flagship Mt. Todd gold project in Northern Territory, Australia, and a 12.4 percent holding in Midas. In addition to non-core projects in Mexico and California, Vista holds royalty interests in projects in Bolivia and Indonesia.

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