Vizsla Copper Announces Upsized Brokered Private Placement FOR Gross Proceeds of up to C$4.5 Million
VIZSLA COPPER ANNOUNCES UPSIZED
BROKERED PRIVATE PLACEMENT FOR
GROSS PROCEEDS OF UP TO C$4.5 MILLION
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN
THE
UNITED STATES
/
VANCOUVER, BC
,
June 6, 2024
/CNW/ - Vizsla Copper Corp. (TSXV: VCU) (OTCQB:
VCUFF) ("
Vizsla Copper
" or the "
Company
") is pleased to announce that due to significant investor
demand, the Company has increased the maximum gross proceeds of its previously announced
"best efforts" private placement (the "
Offering
") to
C$4,500,000
from the sale of any combination
units of the Company (the "
Units
") at a price of
C$0.11
per Unit and flow-through units of the
Company (the "
FT Units
", and together with the Units, the "
Offered Units
") at a price of
C$0.12
per
FT Unit. Red Cloud Securities Inc. (the "
Lead Agent
") is acting as lead agent and sole bookrunner
on behalf of a syndicate of agents (collectively, the "
Agents
").
Each Unit will consist of one common share of the Company (each, a "
Unit Share
") and one half of
one common share purchase warrant (each whole warrant, a "
Warrant
"). Each FT Unit will consist
of one common share of the Company to be issued as a "flow-through share" within the meaning of
the Income Tax Act (
Canada
) (each, a "
FT Share
") and one half of one Warrant. Each whole
Warrant shall entitle the holder to purchase one common share of the Company (each, a "
Warrant
Share
") at a price of
C$0.16
at any time on or before that date which is 24 months after the closing
date of the Offering.
The Agents will have an option, exercisable in full or in part, up to 48 hours prior to the closing of the
Offering, to sell up to an additional
C$1,000,000
in any combination of Offered Units at their
respective offering prices (the "
Agents' Option
").
The Offered Units will be offered by way of the "accredited investor" and "minimum amount
investment" exemptions under National Instrument 45-106 –
Prospectus Exemptions
in all the
provinces of
Canada
. The securities issuable pursuant to the sale of the Offered Units will be subject
to a statutory hold period in
Canada
ending on the date that is four months plus one day following
the closing date of the Offering. The Units may also be sold in offshore jurisdictions and in
the United
States
on a private placement basis pursuant to one or more exemptions from the registration
requirements of the United States Securities Act of 1933 (the "
U.S. Securities Act
"), as amended.
The Company intends to use the net proceeds from the sale of Units for working capital and general
corporate purposes. The gross proceeds from the sale of the FT Shares will be used by the
Company to incur eligible "Canadian exploration expenses" that will qualify as "flow-through mining
expenditures" as such terms are defined in the Income Tax Act (
Canada
) (the "
Qualifying
Expenditures
") related to the Company's projects in
British Columbia, Canada
. All Qualifying
Expenditures will be renounced in favour of the subscribers of the FT Units effective
December 31,
2024
.
The Offering is expected to close on or around
June 19, 2024
or such other date as agreed
between the Company and the Lead Agent, and is subject to certain conditions including, but not
limited to, receipt of all necessary approvals including the approval of the TSX Venture Exchange.
The securities described herein have not been, and will not be, registered under the U.S. Securities
Act, as amended, or any state securities laws, and accordingly, may not be offered or sold within
the United States
or the US persons except in compliance with the registration requirements of the
U.S. Securities Act and applicable state securities requirements or pursuant to exemptions
therefrom. This press release does not constitute an offer to sell or a solicitation to buy any
securities in any jurisdiction.
ABOUT VIZSLA COPPER
Vizsla Copper is a Cu-Au-Mo focused mineral exploration and development company headquartered
in
Vancouver, Canada
. The Company is primarily 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 three additional copper properties: Poplar, Copperview, and Redgold, all well
situated amongst significant infrastructure in
British Columbia
. The Company's growth strategy is
focused on the exploration and development of its 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 it is committed to socially
responsible exploration and development, working safely, ethically and with integrity.
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 regulatory approvals for the Offering; the expected
Closing Date; completion of the Offering; the intended use of proceeds of the Offering; the
Company's growth and business strategies; and the exploration and development of the Company's
properties.
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.
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For further information:
and to sign-up to the mailing list, please contact: Craig Parry, Chief
Executive Officer and Chairman, Tel: (604) 364-2215 | Email:[email protected]
CO: Vizsla Copper Corp.
CNW 07:30e 06-JUN-24