The offering documentation is or will be
accessible through SEDAR+ and EDGAR
VANCOUVER, BC, Sept. 16,
2024 /CNW/ - Vizsla Silver Corp. (TSXV: VZLA)
(NYSE: VZLA) (Frankfurt: 0G3)
("Vizsla" or the "Company") is pleased to announce that
it has entered into an agreement with Canaccord Genuity as sole
bookrunner, on behalf of itself and syndicate of underwriters (the
"Underwriters"), pursuant to which the Underwriters have
agreed to purchase, on a bought deal basis, 25,000,000 common
shares (the "Common Shares"), at a price of $2.60 per Common Share, for gross proceeds of
approximately $65,000,000 (the
"Offering").
The Company has granted the Underwriters an option (the
"Over-Allotment Option"), exercisable at the offering price for a
period of 30 days after and including the closing of the Offering,
to purchase up to an additional 15% of the Offering to cover
over-allotments, if any. The Offering is expected to close on or
about September 19, 2024 and is
subject to the Company receiving all necessary regulatory
approvals. In the event that the Over Allotment Option is
exercised in full, the total gross proceeds of the Offering will be
$74,750,000.
The Company currently intends to use the net proceeds of the
Offering 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
(as defined below).
The Common Shares will be offered by way of a prospectus
supplement (the "Prospectus Supplement") in all of the provinces
and territories of Canada, other
than Quebec, pursuant to the
Company's base shelf prospectus dated March
31, 2023 (the "Base Shelf Prospectus"), and will be offered
in the United States pursuant to a
prospectus supplement (the "US Prospectus Supplement") filed as
part of an effective registration statement on Form F-10 (the
"Registration Statement") filed under the Canada/U.S. multi-jurisdictional disclosure
system. Before investing, prospective purchasers in Canada should read the Prospectus Supplement,
the Base Shelf Prospectus, and the documents incorporated by
reference therein, and prospective purchasers in the United States should read the US
Prospectus Supplement, the Base Shelf Prospectus and the
Registration Statement and the documents incorporated by reference
therein for more complete information about the Company and the
Offering.
Copies of the applicable offering documents, when available, 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, when available, 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 press 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 those regarding the terms of
the Offering and the expected completion and use of proceeds
thereof, which ultimately remains the subject of the Company's
discretion. 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 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.
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SOURCE Vizsla Silver Corp.