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 ecm@cgf.com.
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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SOURCE Vizsla Silver Corp.
