Vizsla Silver Announces Effective Date of Vizsla Royalties Spinout
Vizsla Silver Announces Effective Date of Vizsla Royalties
Spinout
NYSE: VZLA TSX-V: VZLA
VANCOUVER, BC
,
June 20, 2024
/CNW/ -
Vizsla Silver Corp.
(TSXV: VZLA) (NYSE: VZLA) (
Frankfurt
: 0G3) ("
Vizsla
Silver
" or the "
Company
") is pleased to announce that it has received final TSX Venture Exchange ("
TSX-V
"") approval of
the previously announced plan of arrangement ("
Arrangement
") to reorganize its business, including the spin-off of its
wholly-owned subsidiary, Vizsla Royalties Corp. The Arrangement will close effective
12:01 a.m.
on
June 24, 2024
. Existing
common shares of Vizsla Silver will be delisted on the TSX-V effective on the close of business on
June 21, 2024
. New
common shares of Vizsla Silver will commence trading on the TSX-V at the market opening on
June 24
, 2024. The CUSIP
number for the new common shares of Vizsla Silver will be 92859G608.
About the Panuco Project
The newly consolidated
Panuco
silver-gold project is an emerging high-grade discovery located in southern
Sinaloa, Mexico
,
near the city of Mazatlán. The 17,856.5-hectare, past producing district benefits from over 86 kilometres of total vein extent,
35 kilometres of underground mines, roads, power, and permits.
The district contains intermediate to low sulfidation epithermal silver and gold deposits related to siliceous volcanism and
crustal extension in the Oligocene and Miocene. Host rocks are mainly continental volcanic rocks correlated to the
Tarahumara Formation.
On
January 8, 2024
, the Company announced an updated mineral resource estimate for
Panuco
which includes an estimated
in-situ indicated mineral resource of 155.8 Moz AgEq and an in-situ inferred resource of 169.6 Moz AgEq (please refer to
our Technical Report on Updated Mineral Resource Estimate for the Panuco Ag-Au-Pb-Zn Project, Sinaloa State,
Mexico
, by
Allan Armitage
,
Ben Eggers
and Peter Mehrfert, dated
February 12, 2024
and to our Company´s press release dated
January 8
, 2024).
About Vizsla Silver
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 368,000 metres of drilling at
Panuco
leading to the discovery of several new high-grade veins. For 2024,
Vizsla Silver has budgeted +30,000 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.
In accordance with NI 43-101,
Jesus Velador
, Ph.D. MMSA QP, Vice President of Exploration, is the Qualified Person for
the Company and has validated and approved the technical and scientific content of this news release.
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.
NOTE REGARDING 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 with respect to
expected delisting of the old Vizsla Silver common shares and commencement of trading of the new Vizsla Silver common
shares on the TSX-V.
Forward
looking statements and forward
looking information relating to any future mineral production, liquidity, enhanced
value and capital markets profile of the Company, future growth potential for the Company and its business, and future
exploration plans 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; no
escalation in the severity of public health crises; costs of exploration and development; the estimated costs of development
of exploration projects; the Company's ability to operate in a safe and effective manner and its ability to obtain financing on
reasonable terms.
These statements reflect the Company'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 the Company 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;
the ability of the communities in which the Company operates to manage and cope with the implications of public health
crises; the economic and financial implications of public health crises to the Company; 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; ongoing military conflicts around the world; general economic factors; and the factors identified
under the caption "Risk Factors" in the Company's management discussion and analysis and other public disclosure
documents.
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.
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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], Website:
www.vizslasilvercorp.ca
CO: Vizsla Silver Corp.
CNW 14:39e 20-JUN-24