NYSE: VZLA TSX-V:
VZLA
VANCOUVER, BC, Sept. 19,
2024 /CNW/ - Vizsla Silver Corp. (TSXV:
VZLA) (NYSE: VZLA) (Frankfurt:
0G3) ("Vizsla Silver" or the "Company") is pleased to
announce that it has completed its previously announced bought deal
public offering of 25,000,000 common shares of the Company (the
"Common Shares") at a price of C$2.60 per Common Share (the "Offering
Price") for aggregate gross proceeds of C$65,000,000 (the "Offering"). The
Offering was led by Canaccord Genuity as sole bookrunner and lead
underwriter on behalf of a syndicate of underwriters that included
CIBC Capital Markets, Ventum Financial Corp., Raymond James Ltd.,
Stifel Nicolaus Canada Inc., National Bank Financial Inc., and BMO
Capital Markets (collectively, the "Underwriters"). The
Company has granted the Underwriters an over-allotment option,
exercisable at the Offering Price for a period of 30 days after and
including the closing date of the Offering, to purchase up to an
additional 3,750,000 Common Shares. In consideration for the
services provided by the Underwriters in connection with the
Offering, the Company paid to the Underwriters a cash commission
equal to C$3,228,000.10.
The Common Shares were offered pursuant to a final prospectus
supplement of the Company dated September
16, 2024 (the "Prospectus Supplement") to the short
form base shelf prospectus of the Company dated March 31, 2023 (the "Base Shelf
Prospectus"), in all of the provinces and territories of
Canada, except Quebec, and in the
United States pursuant to a prospectus supplement dated
September 16, 2024 (the "US
Prospectus Supplement") filed as part of an effective
registration statement on Form F-10 filed under the Canada/U.S. multi-jurisdictional disclosure
system. The Offering remains subject to the final approval of the
TSX Venture Exchange ("TSX-V").
The net proceeds of the Offering are expected to be used to
advance the exploration, drilling and development of the Company's
Panuco Project, as well as for working capital and general
corporate purposes as set out in the Prospectus
Supplement.
Copies of the applicable offering documents can be obtained free
of charge under the Company's profile on SEDAR+ at www.sedarplus.ca
and EDGAR at www.sec.gov. Delivery of the Base Shelf Prospectus and
the Prospectus Supplement and any amendments thereto will be
satisfied in accordance with the "access equals delivery"
provisions of applicable Canadian securities legislation. An
electronic or paper copy of Prospectus Supplement, the US
Prospectus Supplement, the Base Shelf Prospectus and the
Registration Statement may be obtained, without charge, from
Canaccord Genuity by phone at 416-869-3052 or by e-mail at
ecm@cgf.com by providing Canaccord Genuity with an email address or
address, as applicable.
This news release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of the
securities in any jurisdiction in which such offer, solicitation or
sale would be unlawful.
About Vizsla Silver Corp.
Vizsla Silver is a Canadian mineral exploration and development
company headquartered in Vancouver,
BC, focused on advancing its flagship, 100%-owned
Panuco silver-gold project located
in Sinaloa, Mexico. To date,
Vizsla Silver has completed over 380,000 metres of drilling at
Panuco leading to the discovery of
several new high-grade veins. For 2024, Vizsla Silver has budgeted
+45,000 metres of resource/discovery-based drilling designed to
upgrade and expand the mineral resource, as well as test other high
priority targets across the district.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
SPECIAL NOTE REGARDING FORWARD LOOKING STATEMENTS
This news release includes certain
"Forward–Looking Statements" within the meaning of
the United States Private Securities Litigation Reform Act of 1995
and "forward–looking information" under applicable
Canadian securities laws, including, but not limited to, statements
and information regarding the expected use of proceeds of the
Offering, which ultimately remains the subject of the Company's
discretion, receipt of the final approval of the TSX-V related to
the Offering, and future drilling and exploration activities at the
Panuco Project. When used in this news release, the words
"anticipate", "believe", "estimate", "expect", "target", "plan",
"forecast", "may", "would", "could", "schedule" and similar words
or expressions, identify forward–looking statements
or information.
Forward–looking statements and
forward–looking information are based on management's
reasonable assumptions, estimates, expectations, analyses and
opinions, which are based on management's experience and perception
of trends, current conditions and expected developments, and other
factors that management believes are relevant and reasonable in the
circumstances, but which may prove to be incorrect. Assumptions
have been made regarding, among other things, the price of silver,
gold, and other metals; costs of exploration and development; the
estimated costs of development of exploration projects; Vizsla
Silver's ability to operate in a safe and effective manner and its
ability to obtain financing on reasonable terms.
These statements reflect Vizsla Silver's respective current
views with respect to future events and are necessarily based upon
a number of other assumptions and estimates that, while considered
reasonable by management, are inherently subject to significant
business, economic, competitive, political and social uncertainties
and contingencies. Many factors, both known and unknown, could
cause actual results, performance, or achievements to be materially
different from the results, performance or achievements that are or
may be expressed or implied by such forward–looking
statements or forward-looking information and Vizsla Silver has
made assumptions and estimates based on or related to many of these
factors. Such factors include, without limitation: the Company's
dependence on one mineral project; precious metals price
volatility; risks associated with the conduct of the Company's
mining activities in Mexico;
regulatory, consent or permitting delays; risks relating to
reliance on the Company's management team and outside contractors;
risks regarding mineral resources and reserves; the Company's
inability to obtain insurance to cover all risks, on a commercially
reasonable basis or at all; currency fluctuations; risks regarding
the failure to generate sufficient cash flow from operations; risks
relating to project financing and equity issuances; risks and
unknowns inherent in all mining projects, including the inaccuracy
of reserves and resources, metallurgical recoveries and capital and
operating costs of such projects; contests over title to
properties, particularly title to undeveloped properties; laws and
regulations governing the environment, health and safety; operating
or technical difficulties in connection with mining or development
activities; employee relations, labour unrest or unavailability;
the Company's interactions with surrounding communities and
artisanal miners; the Company's ability to successfully integrate
acquired assets; the speculative nature of exploration and
development, including the risks of diminishing quantities or
grades of reserves; stock market volatility; conflicts of interest
among certain directors and officers; lack of liquidity for
shareholders of the Company; litigation risk; and the factors
identified under the caption "Risk Factors" in the Prospectus
Supplement, the Base Shelf Prospectus and the US Prospectus
Supplement and Vizsla Silver's management discussion and analysis.
Readers are cautioned against attributing undue certainty to
forward–looking statements or forward-looking
information. Although Vizsla Silver has attempted to identify
important factors that could cause actual results to differ
materially, there may be other factors that cause results not to be
anticipated, estimated or intended. Vizsla Silver does not intend,
and does not assume any obligation, to update these
forward–looking statements or forward-looking
information to reflect changes in assumptions or changes in
circumstances or any other events affecting such statements or
information, other than as required by applicable law.
SOURCE Vizsla Silver Corp.