Vizsla Silver Enhances Equity Program to Forestall Future Growth

Author: Thomas Cooper Updated: 09-13-2024 09:27 PM

Vizsla Silver Updates Its At-The-Market Equity Program

NYSE: VZLA TSX-V: VZLA

Vizsla Silver Corp. has announced an important update regarding its at-the-market equity program, aiming to sell up to US$100 million worth of common shares to the public through designated agents. This approach is part of their strategic plan to secure funding for ongoing projects while maintaining flexibility to meet market conditions.

Details of the Equity Program

The sales of these common shares will occur under the terms set forth in an equity distribution agreement established among the Company and leading financial institutions. This agreement enables Vizsla Silver to access funds for vital initiatives, further advancing the Company’s growth trajectory.

Why the At-The-Market Program is Important

Establishing an at-the-market equity program allows Vizsla Silver to leverage current market prices and investor interest proactively. The discretion over timing and pricing of each sale grants ongoing flexibility in funding their exploration and development projects.

Utilizing Proceeds Strategically

Funds generated from this program are anticipated to be allocated towards further exploration and development at the Panuco Project, enhancing operational capacities and overall corporate health. With over 380,000 metres of successful drilling to date at their flagship project, the Company is optimistic about identifying additional high-grade mineral resources.

Impact of the Agreement on Future Operations

With the updated equity distribution agreement, Vizsla Silver aims to terminate any previous agreements to better streamline its funding efforts. According to Michael Konnert, President & CEO, having this ATM Program available for optionality demonstrates prudent financial governance.

Ongoing Commitment to Transparency and Growth

In line with its commitment to transparency, the Company will provide access to relevant offering documentation that potential investors should review carefully. By clearly communicating their funding strategies, Vizsla Silver aims to foster trust and anticipate investor needs.

Further Development Plans and Future Goals

Looking forward, Vizsla Silver has allocated more than 45,000 metres for resource-based drilling in 2024. This initiative is not merely about resource expansion; it signifies their dedication to discovering high-priority targets across their mineral properties and strengthening shareholder confidence through proactive development strategies.

About Vizsla Silver Corp.

Vizsla Silver is a prominent Canadian mineral exploration and development company, primarily focused on its flagship project, the Panuco silver-gold project situated in Sinaloa, Mexico. With significant investments in drilling and exploration, the company continues to position itself as a key player in the precious metals sector.

Frequently Asked Questions

What is Vizsla Silver's equity program about?

Vizsla Silver's equity program allows the company to sell up to US$100 million worth of common shares to raise funds for exploration and development efforts.

Who are the agents involved in the equity program?

The agents for the equity program include Canaccord Genuity and CIBC Capital Markets, among others, ensuring a strong financial backing for the program.

What will the funds from the program be used for?

Funds raised will primarily support ongoing work programs for the Panuco Project and general working capital needs of the company.

How much drilling has been done at the Panuco Project?

Vizsla Silver has completed over 380,000 metres of drilling at the Panuco Project, which has led to the discovery of several high-grade mineral veins.

What are Vizsla Silver's goals for 2024?

For 2024, the company plans to engage in more than 45,000 metres of drilling aimed at resource upgrade and expansion, alongside testing high-priority targets across the district.

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