VISTA GOLD CORP. (TSE:VGZ) Files An 8-K Entry into a Material Definitive AgreementItem 1.01 Entry into a Material Definitive Agreement
On November 22, 2017, Vista Gold Corp. (the “Company”) entered into an At-the-Market Offering Agreement (the “ATM Agreement”) with H.C. Wainwright & Co., LLC (“Wainwright”) as sales manager. Under the terms of the ATM Agreement, the Company will be entitled to sell, at its sole discretion and from time to time as it may choose, common shares in the capital of the Company (“Shares”) through Wainwright, with such sales having an aggregate gross sales value of up to US$10.0 million (the “Offering”). The ATM Agreement will remain in full force and effect until the earlier of August 31, 2020, or the date that the ATM Agreement is terminated in accordance with the terms therein.
Subject to the terms and conditions of the Agreement, H.C. Wainwright will use its commercially reasonable efforts to sell the Shares from time to time, based upon the Company’s instructions. The Company has provided H.C. Wainwright with customary indemnification rights, and H.C. Wainwright will be entitled to a commission at a fixed commission rate equal to 2.0% of the gross proceeds per Share sold.
Sales of the Shares, if any, under the Agreement may be made in transactions that are deemed to be “at the market offerings” as defined in Rule415 under the Securities Act of 1933, as amended (the “Securities Act”), including sales made by means of ordinary brokers’ transactions, including on the NYSE American, LLC, at market prices or as otherwise agreed with H.C. Wainwright. The Company has no obligation to sell any of the Shares, and may at any time suspend offers under the Agreement or terminate the Agreement. Under the Offering, no offers or sales of Shares will be made in Canada, including through the Toronto Stock Exchange (the “TSX”) or other trading markets in Canada.
This report also incorporates by reference the ATM Agreement into the shelf registration statement on FormS-3 (File No.333-218979) previously filed with the Securities and Exchange Commission on June 26, 2017, in the form in which it became effective on July 5, 2017 (the “Registration Statement”). This report shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Shares in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
The ATM Agreement is filed as Exhibit10.1 to this report. The description of the ATM Agreement does not purport to be complete and is qualified in its entirety by reference to the ATM Agreement filed herewith as an exhibit to this report.
The opinion of the Company’s counsel regarding the validity of the Shares that will be issued to the Agreement is also filed herewith as Exhibit5.1. This opinion is also filed with reference to, and is hereby incorporated by reference into, the Registration Statement.
Item 7.01 Regulation FD Disclosure
On November 22, 2017, the Company issued a press release announcing the ATM Agreement and the at-the-market equity program. A copy of the press release is furnished herewith as Exhibit 99.1.
The information furnished to Item 7.01, including Exhibit 99.1, shall not be deemed “filed” for the purposes of Section 18 of the Exchange Act and will not be deemed to be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except to the extent that the Company specifically incorporates it by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| 1.1 | At the Market Offering Agreement dated November 22, 2017* |
| 5.1 | Borden Ladner Gervais LLP Opinion* |
| 99.1 | Press Release dated November 22, 2017** |
| 99.3 | Consent of Borden Ladner Gervais LLP (contained in Exhibit 5.1) |
* The foregoing Exhibits are hereby incorporated by reference into the Registrant’s Registration Statement on Form S-3 (File No. 333-218979), filed with the SEC on June 26, 2017, as declared effective on July 5, 2017, to the United States Securities Act of 1933, as amended.
** The exhibit relating to Item 7.01 is intended to be furnished to, not filed with, the SEC to Regulation FD.
VISTA GOLD CORP ExhibitEX-1.1 2 tv480139_ex1-1.htm EXHIBIT 1.1 Exhibit 1.1 AT THE MARKET OFFERING AGREEMENT November 22,…To view the full exhibit click here
About VISTA GOLD CORP. (TSE:VGZ)
Vista Gold Corp. is engaged in the gold mining industry. The Company is focused on the evaluation, acquisition, exploration and advancement of gold exploration. The Company operates in the segment of evaluation, acquisition and exploration activities, which are focused principally in Australia and North America. The Company’s assets include the Mt Todd gold project in Northern Territory, Australia; interest in Midas Gold Corp.; non-core projects in Mexico and the United States, and royalty interests in project in Mexico and Indonesia. The Mt Todd gold project is located approximately 60 kilometers by road northwest of Katherine, Northern Territory, Australia, and over 250 kilometers southeast of Darwin. The Company operates Mt Todd gold project through its subsidiary, Vista Gold Australia Pty. Ltd (Vista Gold Australia). Total land holdings controlled by Vista Gold Australia are approximately 140,000 hectares.
