Vista Announces Final Court Approval of Proposed Arrangement
Wednesday November 29, 6:49 pm ET
DENVER, Nov. 29 /PRNewswire-FirstCall/ -- Vista Gold Corp. (Amex: VGZ; TSX) ("Vista") announced today that the Supreme Court of the Yukon Territory has granted its final order approving the plan of arrangement that, if completed, will result in Vista transferring its existing Nevada properties into a recently incorporated company, Allied Nevada Gold Corp. ("Allied Nevada"), which will concurrently acquire the Nevada mineral assets of Carl and Janet Pescio. The closing of the transaction is subject to the satisfaction or waiver of a number of conditions customary in a transaction of this nature. The arrangement is expected to close in December 2006.
Vista, based in Littleton, Colorado, evaluates and acquires gold projects with defined gold resources. Additional exploration and technical studies are undertaken to maximize the value of the projects for eventual development. Vista's holdings include the Maverick Springs, Mountain View, Hasbrouck, Three Hills, Wildcat projects, the F.W. Lewis, Inc. properties and the Hycroft mine, all in Nevada, the Long Valley project in California, the Yellow Pine project in Idaho, the Paredones Amarillos and Guadalupe de los Reyes projects in Mexico, the Amayapampa project in Bolivia, the Awak Mas project in Indonesia, and the Mt. Todd project in Australia.
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