4 1 d50556_f-4.txt FORM 4 U.S. SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 4 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940 [_] Check box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). ________________________________________________________________________________ 1. Name and Address of Reporting Person Arthur Richards Rule -------------------------------------------------------------------------------- (Last) (First) (Middle) c/o Global Resource Investments Ltd. 7770 El Camino Real -------------------------------------------------------------------------------- (Street) Carlsbad CA 92009 -------------------------------------------------------------------------------- (City) (State) (Zip) ________________________________________________________________________________ 2. Issuer Name and Ticker or Trading Symbol Vista Gold Corp. (VGZ) ________________________________________________________________________________ 3. IRS Identification Number of Reporting Person (Voluntary) N/A ________________________________________________________________________________ 4. Statement for Month/Year 4/02 ________________________________________________________________________________ 5. If Amendment, Date of Original (Month/Year) ________________________________________________________________________________ 6. Relationship of Reporting Person(s) to Issuer (Check all applicable) [_] Director [X] 10% Owner [_] Officer (give title below) [_] Other (specify below) ________________________________________________________________________________ 7. Individual or Joint/Group Filing (Check applicable line) [_] Form filed by one Reporting Person [X] Form filed by more than one Reporting Person ________________________________________________________________________________ ================================================================================ Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned ================================================================================

6. 4. 5. Owner- Securities Acquired (A) or Amount of ship 3. Disposed of (D) Securities Form: 7. Transaction (Instr. 3, 4 and 5) Beneficially Direct Nature of 2. Code ------------------------------- Owned at End (D) or Indirect 1. Transaction (Instr. 8) (A) of Month Indirect Beneficial Title of Security Date ------------ Amount or Price (Instr. 3 (I) Ownership (Instr. 3) (mm/dd/yy) Code V (D) and 4) (Instr.4) (Instr. 4) ------------------------------------------------------------------------------------------------------------------------------------ Common Shares 4/26/02 J(1)(3) 4,325,925 A (1)(3) 5,925,925 I * ------------------------------------------------------------------------------------------------------------------------------------ 20,000,000 I ** ====================================================================================================================================

* By Global Resource Investments Ltd. ("Global Resource") ** By Stockscape.com Technologies Inc. ("Stockscape") Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. * If the Form is filed by more than one Reporting Person, see Instruction 4(b)(v). Page 1 of 3 FORM 4 (continued) Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) ================================================================================

10. 9. Owner- Number ship of Form 2. Deriv- of Conver- 5. 7. ative Deriv- 11. sion Number of Title and Amount Secur- ative Nature or Derivative 6. of Underlying 8. ities Secur- of Exer- 4. Securities Date Securities Price Bene- ity: In- cise 3. Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of ficially Direct direct Price Trans- action or Disposed Expiration Date ---------------- Deriv- Owned (D) or Bene- 1. of action Code of (D) (Month/Day/Year) Amount ative at End In- ficial Title of Deriv- Date (Instr. (Instr. 3, ---------------- or Secur- of direct Owner- Derivative ative (Month/ 8) 4 and 5) Date Expira- Number ity Month (I) ship Security Secur- Day/ ------ -------------- Exer- tion of (Instr. (Instr. (Instr. (Instr. (Instr. 3) ity Year) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4) ------------------------------------------------------------------------------------------------------------------------------------ Warrants $0.075 4/26/02 J(2) 1,600,000 Immed. 2/1/07 Common 1,600,000 (2) 1,600,000 I * (right Shares to buy) ------------------------------------------------------------------------------------------------------------------------------------ Warrants $0.075 4/26/02 J(2) 20,000,000 Immed. 2/1/07 Common 20,000,000 (2) 20,000,000 I ** (right Shares to buy) ------------------------------------------------------------------------------------------------------------------------------------ Warrants $0.075 4/26/02 J(3) 4,325,925 Immed. 3/18/07 Common 4,325,925 (3) 4,325,925 I * (right Shares to buy) ------------------------------------------------------------------------------------------------------------------------------------ Debentures $.0513 4/26/02 J(3) 44,912,280 Immed. 3/18/07 Common 44,912,280 (3) 44,912,280 I *** (3) (3) (3) (4) Shares (3) (3) ====================================================================================================================================

* By Global Resource ** By Stockscape *** By Exploration Capital Partners 2000 Limited Partnership ("Exploration Capital") Explanation of Responses: (1) Reflects exercise of Agent's Special Warrant in connection with Debenture offering described in Note (3) below. (2) On February 1, 2002, in a private transaction, Stockscape purchased 20,000,000 units (the "Units") of the Issuer, at a price of $0.0513 per Unit. Global Resource, as agent, received 1,600,000 Units as compensation in connection with such issuance. Each Unit consists of one Common Share and one share purchase warrant exercisable, subject to approval of the shareholders of the Issuer (as to warrant issuance), for one additional Common Share of the Issuer at $0.075 until February 1, 2007. Beneficial ownership as to the Common Share component of the Units was reported as of April 23, 2002. Issuance of shares upon warrant exercise was approved at the Issuer's Annual and Special General Meeting (of Shareholders) on April 26, 2002. Accordingly, acquisition of warrant component of the Units is being reported as of April 26, 2002. (3) On March 19, 2002, Issuer sold an aggregate $2,774,000 principal amount of Debentures, which are convertible into units (the "Debenture Units") at a price of $.0513 per Debenture Unit, each consisting of one Common Share and one 5-year purchase warrant (a "Debenture Warrant") exercisable to purchase one Common Share at an exercise price of $.075 per share (expiration date for the Debenture Warrants is March 18, 2007). Exploration Capital purchased $1,152,000 principal amount of Debentures. In addition, as consideration for its services as agent in connection with the Debenture offering, the Issuer issued to Global Resource special warrants (the "Agent's Special Warrants") convertible into 4,325,925 units ("Agent's Units"), with each unit consisting of one Common Share and one warrant with the same terms as the Debenture Units. Issuance of Shares upon conversion of Debentures, conversion of Agent's Special Warrants, and exercise of the warrants receivable as components of the Debenture Units, were all subject to shareholder approval, which occurred at the Issuer's Annual and Special General Meeting on April 26, 2002. (4) Refers to expiration date for Debenture Warrants. /s/ Arthur Richards Rule May 2, 2002 --------------------------------------------- ----------------------- Arthur Richards Rule Date ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). Note: File three copies of this Form, one of which must be manually signed. If space provided is insufficient, see Instruction 6 for procedure. Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. Page 2 of 3 Joint Filer Information Name: Rule Family Trust u/d/t 12/17/98 Address: c/o Global Resource Investments Ltd. 7770 El Camino Real Carlsbad, CA 92009 Designated Filer: Arthur Richards Rule Issuer and Ticker Symbol: Vista Gold Corp. (VGZ) Date of Event Requiring Statement: 4/26/02 Signature: Rule Family Trust u/d/t 12/17/98 By: /s/ Arthur Richards Rule ---------------------------------------- Arthur Richards Rule, Trustee Additional Explanation of Responses: Rule Family Trust is a revocable trust established by the Reporting Person. Page 3 of 3