Vizsla Silver Announces Upsize of Private Placment Financing to $39 Million
VIZSLA SILVER ANNOUNCES UPSIZE OF PRIVATE PLACMENT FINANCING TO $39 MILLION
NOT FOR DISSEMINATION IN THE US OR THROUGH US NEWSWIRE SERVICES
Vancouver, British Columbia (January 27, 2023) – Vizsla Silver Corp. (TSX-V: VZLA) (NYSE: VZLA)
(Frankfurt: 0G3) (“Vizsla Silver” or the “Company”) is pleased to announce that due to strong institutional
investor demand, it has entered into an agreement with PI Financial Corp. as sole bookrunner and lead
agent (the "Lead Agent"), on behalf of a syndicate of agents (together with the Lead Agent, the "Agents")
to increase the size of the previously announced commercially reasonable efforts private placement from
$34,006,500 to $39,149,550 (the “Offering”).
Pursuant to the amended terms, the Offering will consist of 23,727,000 common shares (the “Shares”) of
the Company at a price of $1. 65 per Share (the "Offering Price") for aggregate gross proceeds of
$39,149,550, excluding any additional proceeds raised from the exercise of the Agents’ Option (defined
below).
The Company will grant the Agents an option (the “Agents’ Option”), which will allow the Agents to offer
up to an additional 15% of the Offering on the same terms. The Agents’ Option may be exercised in whole
or in part at any time prior to the Closing Date of the Offering.
The net proceeds from the Offering will 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.
The closing of the Offering is anticipated to occur on or around February 9, 2023 (the “Closing Date”) and
is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals,
including the acceptance of the TSX Venture Exchange. All securities issued under the Offering will be
subject to a statutory hold period in Canada expiring four months and one day from the Closing Date.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities
in the United States. The securities have not been and will not be registered under the United States
Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not
be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities
Act and applicable state securities laws or an exemption from such registration is available.
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 6,761-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.
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
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. 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. These forward-looking statements or information relate
to, among other things: the expected closing date for the Offering and the intended net proceeds of the
Offering.
Forward-looking statements and forward-looking information relating to any future mineral pr oduction,
liquidity, enhanced value and capital markets profile of Vizsla Silver, future growth potential for Vizsla Silver
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 the COVID -19 pandemic; 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, co uld 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; the ability of the communities in which the Company operates to manage and cope with the
implications of COVID-19; the economic and financial implications of COVID-19 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; and the factors identified under the caption “Risk Factors” in 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.