NYSE: VZLA TSX-V: VZLA
VANCOUVER, BC, Sept. 13, 2024 /PRNewswire/ – Vizsla Silver Corp. VZLA 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).
The Shift in Strategy
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.
Strategic Utilization of Resources
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.
Ensuring Flexibility
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.
A Reliable Move
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.
Forward-Thinking Perspective
“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.”
Accessible Information
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 ecm@cgf.com.
Key Reminder for Potential Investors
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
The Silver Lining: Vizsla Silver Unveils High-Grade Discoveries in Panuco
Solidifying its foothold in the world of precious metals, Vizsla Silver has recently struck proverbial gold with the unearthing of multiple high-grade veins in the mystical mines of Panuco. This discovery, akin to stumbling upon hidden treasures in a long-forgotten pirate’s chest, has sent ripples across the mining industry.
Unveiling a Glittering Future
The grand vision for 2024 includes a whopping budget allocation of over 45,000 meters for resource and discovery-focused drilling. This strategic move is designed not only to enhance and expand the existing mineral resource but also to explore potentially lucrative high-priority targets scattered throughout the district.
Shedding Light on Forward-Looking Statements
The company, in its quest for transparency, has provided a special disclaimer regarding forward-looking statements and information. The management’s outlook is perched on well-considered assumptions, expert estimates, and shrewd analysis. These projections hinge on a tapestry of factors such as silver and gold prices, exploration costs, and operational viability, akin to an astrologer gazing at the alignment of stars to predict the future.
Despite the promising horizon, Vizsla Silver is well-aware of lurking uncertainties. Factors like market volatility, regulatory hurdles in Mexico, environmental compliance, and operational challenges cast shadows over the gleaming prospect. However, like skilled sailors weathering a stormy sea, the company steers through these uncertainties with cautious optimism and strategic acumen.
Staying Grounded Amidst Success
As the market buzzes with excitement over Vizsla Silver’s latest triumphs, the company remains grounded. The delicate dance of mineral production, liquidity maintenance, and growth sustenance is not lost on the astute management. With one foot anchored in the solid ground of historical success and the other poised to tap into future opportunities, Vizsla Silver treads the thin line between past glories and future promises with finesse.
