Vista Gold gets proceeds of $20.3M in stock offer

Vista Gold receives $20.3 million in proceeds from stock offering

• On 3:29 pm EDT, Friday September 25, 2009

DENVER (AP) -- Mining company Vista Gold Corp., which operates in Mexico's Baja region, said Friday it received about $20.3 million from the sale of 1.32 million shares of common stock in a recent offering.

With the sale of the shares to the underwriters, at $2.25 each, 10.12 million common shares in total have been sold in the offering. The 1.32 million shares were sold to cover overallotments.

Vista aims to use sale proceeds to fund drilling, exploration and related activities.

In afternoon trading, shares fell 11 cents, or 4.9 percent, to $2.16.