Vista Gold (TSX:VGZ) has closed its US$44.85 million ($63.68 million) public offering to advance exploration and development at its Mt Todd Gold Project in the Northern Territory.
The company completed the offering of 17.94 million common shares at US$2.50 per share, which included the full exercise of the underwriters’ option to purchase an additional 2.34 million shares.
Vista plans to use the proceeds to advance exploration and development activities at Mt Todd, as well as for general corporate purposes.
CIBC Capital Markets acted as sole bookrunner for the offering, with BMO Capital Markets, Raymond James, H.C. Wainwright & Co, and Tamesis Partners serving as co-managers.
The Mt Todd Project is positioned as a development-stage gold deposit that Vista says offers strong project economics, significant initial production potential, and exploration upside.
The company notes the project benefits from advanced local infrastructure, multiple development scenarios, and broad community support.
Edited by Adam Orlando
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Images: Vista Gold
