TSX.V: VCU | OTCQB: VCUFF | FRANKFURT: 97E0
VANCOUVER,
BC, June 2, 2023 /CNW/ - Vizsla Copper Corp.
(TSXV: VCU) (OTCQB: VCUFF) (FSE: 97E0) ("Vizsla Copper" or
the "Company") is pleased to announce that the TSX Venture
Exchange has approved the share issuance of 300,000 shares for the
Megaton Option Agreement previously announced on May 9, 2023 which is an arm's length transaction.
The shares are subject to a four-month and one day hold period
under applicable securities laws in Canada.
The Company also announces that, subject to
regulatory approval, it has retained Peak Investor Marketing Corp.
("Peak") to provide marketing services to the Company in
compliance with the policies and guidelines of the TSX Venture
Exchange and other applicable legislation.
Under the agreement, the Company will pay Peak
CA$144,000 for the initial 12-month term. Following the initial
term, the Company will pay Peak $12,000 per month. The Company and Peak have an
arm's length relationship, but Peak may have an interest, directly
or indirectly, in the securities of the Company. The agreement is
principally for the purposes for the Company to obtain marketing,
public relations and advisory services. The Company will grant
400,000 stock options upon the close of the financing, previously
announced on May 15, 2023. And the
stock options will be in accordance with the terms of the Company's
stock option plan and will be subject to TSX Venture Exchange and
regulatory approvals.
The Woodjam Project
The 74,604 ha Woodjam Project is located 55
kilometres east of the community of Williams Lake in an area characterized by a
low elevation, flat to gently undulating landscape that is well
accessed by logging roads. Geologically, the Woodjam Project is
located within the prolific Quesnel terrane – a large regional
depositional belt commonly dominated by alkalic volcanic units and
related volcaniclastic lithologies. The Quesnel terrane hosts both alkaline and
calc-alkaline porphyry copper+/-gold+/-molybdenum deposits,
including the Copper Mountain, New Afton, Highland Valley, Mount
Polley, Mount Milligan and Kemess mines.
To date, six zones of porphyry-related
mineralization (Megabuck, Deerhorn, Takom, Three Firs, Southeast,
Megaton) have been identified at the Woodjam Project by drilling
(95,092 metres in 281 holes since 2009 and a further 114 holes,
30,092 metres predominantly from 1998). These six mineralized zones
form a cluster approximately five kilometres in diameter.
About Vizsla Copper
Vizsla Copper is a Cu-Au-Mo mineral exploration
and development company headquartered in Vancouver, Canada. The Company is focused on
its flagship Woodjam Project, located within the prolific
Quesnel terrane, 55 kilometers
east of the community of Williams Lake,
British Columbia. It has two additional copper exploration
properties, the Blueberry and Carruthers
Pass projects, well situated amongst significant
infrastructure in British
Columbia. The Company will grow through the exploration and
development of the copper properties within its portfolio in
addition to value accretive acquisitions. Vizsla Copper's vision is
to be a responsible copper explorer and developer in the stable
mining jurisdiction of British Columbia,
Canada and is committed to socially responsible exploration
and development, working safely, ethically and with integrity.
Vizsla Copper is a spin-out of Vizsla Silver
Corp. (TSX.V: VZLA) (NYSE: VZLA) and is backed by Inventa Capital
Corp., a premier investment group founded in 2017 with the goal of
discovering and funding opportunities in the resource sector.
Additional information about the Company is available on SEDAR
(www.sedar.com) and the Company's website
(www.vizslacopper.com).
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
FORWARD LOOKING
STATEMENTS
The information contained herein contains
"forward-looking statements" within the meaning of the United
States Private Securities Litigation Reform Act of 1995 and
"forward-looking information" within the meaning of applicable
Canadian securities legislation. "Forward-looking information"
includes, but is not limited to, statements with respect to the
activities, events or developments that the Company expects or
anticipates will or may occur in the future, including, without
limitation, planned exploration activities. Generally, but not
always, forward-looking information and statements can be
identified by the use of words such as "plans", "expects", "is
expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates", or "believes" or the negative connotation
thereof or variations of such words and phrases or state that
certain actions, events or results "may", "could", "would", "might"
or "will be taken", "occur" or "be achieved" or the negative
connotation thereof. Forward-looking statements in this news
release include, among others, statements relating to: obtaining
the required TSXV approval(s); timing of completion of the
Acquisition; exploration and development of the Redgold Project and
Woodjam Project; exercise of the option pursuant to the terms of
the Underlying Option Agreement; and the Company's growth and
business strategies.
Such forward-looking information and statements
are based on numerous assumptions, including among others, that the
results of planned exploration activities are as anticipated, the
anticipated cost of planned exploration activities, that general
business and economic conditions will not change in a material
adverse manner, that financing will be available if and when needed
and on reasonable terms, that third party contractors, equipment
and supplies and governmental and other approvals required to
conduct the Company's planned exploration activities will be
available on reasonable terms and in a timely manner. Although the
assumptions made by the Company in providing forward-looking
information or making forward-looking statements are considered
reasonable by management at the time, there can be no assurance
that such assumptions will prove to be accurate.
Forward-looking information and statements also
involve known and unknown risks and uncertainties and other
factors, which may cause actual events or results in future periods
to differ materially from any projections of future events or
results expressed or implied by such forward-looking information or
statements, including, among others: negative operating cash flow
and dependence on third party financing, uncertainty of additional
financing, no known mineral reserves or resources, the limited
operating history of the Company, the influence of a large
shareholder, aboriginal title and consultation issues, reliance on
key management and other personnel, actual results of exploration
activities being different than anticipated, changes in exploration
programs based upon results, availability of third party
contractors, availability of equipment and supplies, failure of
equipment to operate as anticipated; accidents, effects of weather
and other natural phenomena and other risks associated with the
mineral exploration industry, environmental risks, changes in laws
and regulations, community relations and delays in obtaining
governmental or other approvals.
Although the Company has attempted to identify
important factors that could cause actual results to differ
materially from those contained in the forward-looking information
or implied by forward-looking information, there may be other
factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that forward-looking
information and statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated, estimated or intended. Accordingly, readers should not
place undue reliance on forward-looking statements or information.
The Company undertakes no obligation to update or reissue
forward-looking information as a result of new information or
events except as required by applicable securities laws.
SOURCE Vizsla Copper Corp.