September 22, 2009, 2009 (FinancialWire) — Vista Gold Corp. (AMEX: VGZ) has sold 8.8 million common shares at a price of $2.25 per common share in a public offering.

The company has granted the underwriters a 30-day option to purchase up to 1.32 million additional common shares to cover over-allotments.

Vista will see proceeds of around $17.6 million, assuming the underwriters’ over-allotment option is not exercised.

The company plans to use the net proceeds from this offering to fund drilling, exploration, and technical and engineering activities on its Mt. Todd gold project. It will also use the proceeds to fund the engineering, design and other technical activities to advance its Paredones Amarillos gold project, exploration activities and possible drilling programs at its Guadalupe de los Reyes gold project and to fund acquisitions, and further development of acquired mineral properties, working capital requirements and/or for other general corporate purposes.

Littleton, Colorado-based Vista Gold has holdings in Mexico, Australia, Idaho, Indonesia and California.

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