Vizsla Copper Issues Shares FOR Megaton Option Agreement
VIZSLA COPPER ISSUES SHARES FOR
MEGATON OPTION AGREEMENT
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.
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For further information:
For more information and to sign-up to the mailing list, please contact:
Chris Donaldson, Chief Executive Officer and Director, Tel: (604) 813-3931, Email:
CO: Vizsla Copper Corp.
CNW 15:30e 02-JUN-23