Vizsla Silver Secures $65 Million Financing for Expansion

Vizsla Silver Announces Significant Financing Agreement

The offering documentation is or will be accessible through SEDAR+ and EDGAR

Vizsla Silver Corp. (TSXV: VZLA) (NYSE: VZLA) is thrilled to share exciting news regarding a recent financing opportunity that underscores its commitment to growth. The Company has entered an agreement with Canaccord Genuity as the sole bookrunner, along with a syndicate of underwriters. This collaboration allows the Underwriters to acquire 25,000,000 common shares at a valuation of $2.60 per Common Share, generating gross proceeds nearing $65,000,000.

Details of the Offering

The arrangement includes an additional option for the Underwriters, allowing them to purchase up to an extra 15% of the Offering within a 30-day window post-closing. Pending regulatory approvals, the Offering is anticipated to finalize soon, enhancing the financial position of Vizsla Silver.

Funding Focused on Critical Development

Proceeds from this offering are strategically earmarked for advancing the exploration, drilling, and development at the Company’s flagship project, the Panuco Project. Additionally, funds will be allocated for working capital and various corporate operations.

Broad Geographic Reach of the Offering

The Common Shares will be available through a prospectus supplement in all Canadian provinces and territories except Quebec, extending to the United States via an effective registration statement under the Canada/U.S. disclosure system. This broad offering scope underscores Vizsla's commitment to reaching diverse investors.

Company Vision and Exploration Commitment

Vizsla Silver’s dedication to mineral exploration is further evident. With headquarters in Vancouver, the Company is focused on its 100%-owned Panuco silver-gold project located in Sinaloa, Mexico. To date, Vizsla has successfully drilled over 380,000 meters at Panuco, resulting in the discovery of multiple high-grade veins.

Plans for 2024 and Beyond

For the upcoming period, Vizsla Silver has allocated a budget exceeding 45,000 meters for resource-focused drilling, aimed at enhancing and broadening the mineral resource profile while exploring other significant targets throughout the district. This focus reflects the Company’s strategic vision in the competitive landscape of mineral exploration and development.

Company Background

As a leading Canadian mineral exploration company, Vizsla Silver is committed to advancing its flagship projects. With an experienced team and a robust operational plan, the Company seeks continual growth and discovery in the field. Currently, the focus on the Panuco Project highlights their intent on building a substantial mining asset.

Frequently Asked Questions

What is the amount raised in the financing deal?

The financing deal is set to raise approximately $65 million through a bought deal of common shares.

Who are the underwriters for this offering?

Canaccord Genuity is the sole bookrunner for this financing, working with a syndicate of underwriters.

What will the proceeds be used for?

The proceeds from the offering will be directed towards the exploration, drilling, and development of the Panuco Project, along with general corporate purposes.

Where will the shares be offered?

The shares will be offered across all provinces and territories of Canada, except for Quebec, and in the United States.

What is Vizsla Silver's main focus?

Vizsla Silver is focused on advancing its flagship Panuco silver-gold project located in Sinaloa, Mexico, with ongoing drilling and exploration efforts planned for 2024 and beyond.

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