Vizsla Silver Announces Closing of over-Allotment Option IN Full
VIZSLA SILVER ANNOUNCES CLOSING OF
OVER-ALLOTMENT OPTION IN FULL
NYSE: VZLA TSX-V: VZLA
VANCOUVER, BC
,
Sept. 25, 2024
/CNW/ -
Vizsla Silver Corp.
(TSXV: VZLA) (NYSE: VZLA)
(
Frankfurt
: 0G3)
("Vizsla Silver" or the "Company")
is of 25,000,000 common shares of the
Company (the "
Initial Shares
") at a price of
C$2.60
per Initial Share (the "
Offering Price
"), the
underwriters have purchased an additional 3,750,000 common shares of the Company (the
"
Additional Shares
", and together with the Initial Shares, the "
Common Shares
") at the Offering
Price per Additional Share, pursuant to their exercise in full of the over-allotment option (the "
Over-
Allotment Option
") granted by Vizsla Silver, generating additional gross proceeds of
C$9,750,000
.
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
"). In consideration for the services provided by the Underwriters in
connection with the issue and sale of the Additional Shares, the Company paid to the Underwriters a
cash commission equal to
C$487,500
.
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, including those raised from the exercise of the Over-Allotment
Option, 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
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.
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For further information:
Contact Information: For more information and to sign-up to the mailing
list, please contact: Michael Konnert, President and Chief Executive Officer, Tel: (604) 364-2215,
Email: [email protected]
CO: Vizsla Silver Corp.
CNW 09:37e 25-SEP-24