Vizsla Silver Corp V.VZLA

Announcement of $34M brokered private placement at $1.65...

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VANCOUVER, British Columbia, Jan. 27, 2023 (GLOBE NEWSWIRE) -- Vizsla Silver Corp. (TSX-V: VZLA) (NYSE: VZLA) (Frankfurt: 0G3) (“Vizsla Silver” or the “Company”) is pleased to announce that it has entered into an agreement with PI Financial Corp. as sole bookrunner and lead agent (the "Lead Agent"), on behalf of a syndicate of agents (together with the Lead Agent, the "Agents") in connection with a commercially reasonable efforts private placement of 20,610,000 common shares (the “Shares”) of the Company at a price of $1.65 per Share (the "Offering Price") for aggregate gross proceeds of $34,006,500 (the "Offering"), excluding any additional proceeds raised from the exercise of the Agents’ Option (defined below).

The Company will grant the Agents an option (the “Agents’ Option”), which will allow the Agents to offer up to an additional 15% of the Offering, on the same terms as the Shares. The Agents’ Option may be exercised in whole or in part at any time prior to the Closing Date of the Offering.

The net proceeds from the Offering will be used to advance the exploration, drilling and development of the Company’s Panuco Project, as well as for working capital and general corporate purposes.

The closing of the Offering is anticipated to occur on or around February 9, 2023 (the “Closing Date”) and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals, including the acceptance of the TSX Venture Exchange. All securities issued under the Offering will be subject to a statutory hold period in Canada expiring four months and one day from the Closing Date.