Solvista Gold Corporation was incorporated in Ontario, Canada in 2010 as a result of a joint venture agreement between Toronto based Norvista Resources Corporation and Bullet Holdings Corp, the parent company of Colombia based Grupo de Bullet S.A., who provided Continental Gold limited with 100% of its Colombian properties. The company currently owns two exploration projects in the northwest Colombian department of Antioquia, known as Guadalupe and Caramanta. Initial work completed by Grupo de Bullet S.A. identified a number of exploration targets on both properties which will now be followed up aggressively by Solvista. A number of other properties are also under review. The company completed an RTO transaction with Alpha One Corporation (a CPC) on April 27, 2011 and will be publicly listed on the TSX-V (trading symbol SVV) Monday May 16, 2011. As a condition of the RTO, the Company raised $15 million in February 2011 through the sale of 20 million subscription receipts at a price of $0.75. On closing of the RTO the subscription receipts automatically converted into 20 million units of the company. A unit consists of 1 share and 1⁄2 share purchase warrant with a strike price of $1.10 and an expiry date of April 27, 2013. The Company completed a non-brokered private placement with Kinross Gold Corporation on May 11, 2011. Kinross purchased 3,647,063 units at $0.75 per unit for proceeds of $2,735,297. The units purchased by Kinross have the same terms as the units issued by the Company upon the conversion of the subscription receipts. Kinross has a 9.9% partially diluted ownership interest in Solvista. (See News)
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