Vizsla Silver Corp T.VZLA

VIZSLA SILVER announces $20M bought deal financing...

[zack50]

Vancouver, British Columbia (November 7, 2022) – 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 co-lead underwriter and joint bookrunner on its own behalf and on behalf of a syndicate of underwriters (the “Underwriters”) including Canaccord Genuity Corp. as co-lead underwriter and joint bookrunner, pursuant to which the Underwriters have agreed to purchase, on a “bought deal” basis, 13,800,000 units of the Company (the “Units”), at a price of $1.45 per Unit (the “Offering Price”) for gross proceeds of $20,010,000 (the “Offering”).

Each Unit shall consist of one common share in the capital of the Company (a “Common Share”) and one-half of one common share purchase warrant (each whole common share purchase warrant, a “Warrant”). Each Warrant shall be exercisable into one common share of the Company (a “Warrant Share”) for a period of 24 months from closing at an exercise price of $2.00 per Warrant Share.

The Company has granted the Underwriters an option, exercisable at the Offering Price for a period of 30 days following the Closing Date (as defined herein), to purchase up to an additional 15% of the number of Units sold under the Offering to cover over-allotments, if any and for market stabilization purposes. The Offering is expected to close on or about November 15, 2022 (the "Closing Date") and is subject to the Company receiving all necessary regulatory approvals.

The net proceeds of the Offering will be used to advance the exploration and development of Panuco, including the delivery of a resource update in the fourth quarter of 2022, as well as for working capital and general corporate purposes.