Vizsla Silver Updates at-the-Market Equity Program
VIZSLA SILVER UPDATES AT-THE-MARKET
EQUITY PROGRAM
NYSE: VZLA TSX-V: VZLA
VANCOUVER, BC
,
Sept. 13, 2024
/CNW/ -
Vizsla Silver Corp.
(TSXV: VZLA) (NYSE: VZLA) (
Frankfurt
: 0G3)
("
Vizsla Silver
" or the "
Company
") announced today that it has updated its at-the-market equity program (the
"
ATM Program
") to offer and sell up to
US$100 million
of common shares of the Company ("
Common
Shares
") to the public, from time to time, through the Agents (as defined below).
Sales of Common Shares, if any, will be made pursuant to the terms of an equity distribution agreement dated
September 13, 2024
(the "
Equity Distribution Agreement
") among the Company and Canaccord Genuity and
CIBC Capital Markets, as lead agents, and National Bank Financial and BMO Capital Markets (collectively, the
"
Agents
"), on the TSX Venture Exchange and the NYSE American, and/or any other marketplace for the
Common Shares in
Canada
or
the United States
or as otherwise agreed between the Agents and the Company.
The sales of Common Shares under the ATM Program, if any, will be determined at the Company's sole
discretion, and at the market price prevailing at the time of each sale.
The offering of Common Shares under the ATM Program is being made pursuant to a prospectus supplement
dated
September 13, 2024
(the "
Prospectus Supplement
") to the Company's final short form base shelf
prospectus filed in all provinces and territories of
Canada
dated
March 31, 2023
(the "
Base Shelf
Prospectus
"), and pursuant to a prospectus supplement dated
September 13, 2024
(the "
U.S. Prospectus
Supplement
") to the Company's U.S. base prospectus (the "
U.S. Base Prospectus
") included in its
registration statement on Form F-10 (the "
Registration Statement
") (File No. 333-270533) filed with the United
States Securities and Exchange Commission on
April 4, 2023
(collectively, the Prospectus Supplement, Base
Shelf Prospectus, U.S. Prospectus Supplement, the U.S. Base Prospectus and Registration Statement, the
"
Offering Documents
").
The Company intends to use the net proceeds from the ATM Program, if any, to fund ongoing work programs
to advance the Panuco Project, for working capital and for general corporate purposes.
The ATM Program will be effective until the earlier of the date on which (i) the issuance and sale of all of the
Common Shares issuable pursuant to the ATM Program have been completed, and (ii) the receipt issued for
the Base Shelf Prospectus ceases to be effective, unless earlier terminated prior to such date by the Company
or the Agents in accordance with the terms of the Equity Distribution Agreement.
Concurrent with entering into the Equity Distribution Agreement, the Company's previously announced at-the-
market equity distribution agreement dated
March 26, 2024
was terminated.
"
It is prudent for Vizsla Silver to have an ATM Program available for optionality,
" commented
Michael Konnert
,
President & CEO
. "The Company never utilized the ATM that it had in place from
April 2021
until March
2023."
The Prospectus Supplement, the Base Shelf Prospectus and the Equity Distribution Agreement are available at
www.sedarplus.ca
and the U.S. Prospectus Supplement, the U.S. Base Prospectus and the Registration
Statement are available at
www.sec.gov
. Alternatively, the Agents will send copies of the Prospectus
Supplement and the Base Shelf Prospectus or the U.S. Prospectus Supplement and the U.S. Base Prospectus,
as applicable, upon request by contacting: Canaccord Genuity Corp., Suite 2100, 40 Temperance Street,
Toronto, Ontario
M5H 0B4 or by email at
.
Potential investors should read the Offering Documents before making an investment decision. Such documents
contain important information about the ATM Program.
No securities regulatory authority has either approved or disapproved of the contents of this press
release. This press release is for information purposes only and does not constitute an offer to sell or
the solicitation of an offer to buy the Common Shares, nor shall there be any sale of these securities in
any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or jurisdiction.
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 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. 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
issuance, sale and distribution of Common Shares pursuant to the ATM Program, including the price, volume
and timing of any distributions; the intended use of net proceeds from the ATM Program, if any; and other
statements that are not historical facts.
Forward–looking statements and forward–looking information relating to any future mineral production, 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; 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 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.
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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 20:54e 13-SEP-24