Vizsla Silver Announces Results of Annual General and Special Meeting
VIZSLA SILVER ANNOUNCES RESULTS OF ANNUAL GENERAL AND
SPECIAL MEETING
NYSE: VZLA TSX-V: VZLA
VANCOUVER, BC, Nov. 2, 2023 /CNW/ - Vizsla Silver Corp. (TSXV: VZLA) (NYSE:
VZLA) (Frankfurt: 0G3) ("Vizsla Silver" or the "Company") is pleased to announce the
results of the Company's annual general and special meeting of the shareholders (the
"Meeting") held in Vancouver, British Columbia on November 1, 2023.
Shareholders were asked to vote on the following:
• Fix the number of directors at five persons;
• Elect Craig Parry, Michael Konnert, Simon Cmrlec, Harry Pokrandt and David
Cobbold as directors for the ensuing year;
• Re-appoint MNP LLP as the Company's auditor for the ensuing year and
authorize the directors to determine the remuneration to be paid to the auditor;
• Approve the Company's omnibus equity incentive compensation plan; and
• Approve the Company's shareholder rights plan (the "Rights Plan") adopted by
the board of directors (the "Board").
Shareholders approved all motions put forth at the Meeting and a total of 100,458,716
shares were voted, representing 48.30% of the Company's issued and outstanding
shares. A detailed report of the results is available on the Company's profile on
SEDAR+ and EDGAR.
The adoption of the Rights Plan is intended to ensure, to the extent possible, that all
shareholders of the Company are treated fairly and equally in connection with any
unsolicited take-over bid or other acquisition of control of or a significant interest in the
Company and to protect against acquisitions of control of the Company through
purchases of common shares of the Company that are exempt from applicable
Canadian take-over bid rules. Furthermore, the Rights Plan will ensure the Board is
provided with adequate time to consider and evaluate such a take-over bid or other
acquisition and, if appropriate, identify, develop and negotiate any value-enhancing
alternatives.
The Rights Plan is substantially similar to shareholder rights plans adopted by other
Canadian issuers and the Rights Plan is not being adopted in response to any specific
proposal to acquire control of the Company. In accordance with the terms of the Rights
Plan, one right (a "Right") will be issued and attached to each common share in the
capital of the Company (a "Share") outstanding as of the record time under the Rights
Plan. A Right will also be attached to each Share issued after the effective date in
accordance with the terms of the Rights Plan. The issuance of the Rights will not
change the manner in which shareholders trade their Shares and the Rights will
automatically attach to the Shares with no further action required by shareholders.
Subject to the terms of the Rights Plan, the Rights issued under the Rights Plan
become exercisable only if a person (an "Acquiring Person"), together with certain
parties related to such person, acquires or announces its intention to acquire beneficial
ownership of 20% or more of the outstanding Shares without complying with the
"Permitted Bid" provisions of the Rights Plan. Following a transaction that results in a
person becoming an Acquiring Person, the Rights entitle the holders thereof (other than
the Acquiring Person and certain related parties) to purchase Shares at a significant
discount to the market price at that time.
The Rights Plan is subject to the acceptance of the TSX Venture Exchange. The Rights
Plan will have an initial term of three years.
The description of the Rights Plan in this press release is qualified in its entirety by the
full text of the Rights Plan. A copy of the Rights Plan is available on SEDAR+ under the
Company's profile at www.sedarplus.ca and on the Company's website at
https://vizslasilvercorp.ca/corporate/corporate-governance/.
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 7,189.5-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.
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 250,000 metres of drilling at Panuco leading to the discovery of several
new high-grade veins. For 2023, Vizsla Silver has budgeted +90,000 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.
Website: www.vizslasilvercorp.ca
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
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: the
exploration, development, and production at Panuco, including plans for
resource/discovery-based drilling designed to upgrade and expand the mineral
resource.
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.
SOURCE Vizsla Silver Corp.
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For further 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 15:30e 02-NOV-23