- Vizsla Silver (VZLA) has announced a bought deal private placement for gross proceeds of $20,010,000
- The company will issue 13,800,000 units at $1.45 per unit
- The net proceeds will be used to advance the exploration and development of the Panuco silver-gold project in Sinaloa, Mexico
- Vizsla Silver is a Canadian mineral exploration and development company
- Vizsla Silver Corp. (VZLA) opened trading at C$1.58
Vizsla Silver (VZLA) has announced a bought deal private placement for gross proceeds of $20,010,000.
The underwriters, including PI Financial Corp. as co-lead underwriter and Canaccord Genuity Corp. as co-lead underwriter and joint bookrunner, have agreed to purchase, on a bought deal basis, 13,800,000 units of Vizsla Silver at $1.45 per unit.
Each unit will consist of one common share and one-half of one common share purchase warrant. Each whole warrant will be exercisable for one common share for a period of 24 months from closing at an exercise price of $2.00 per warrant share.
Warrants are subject to an acceleration clause.
The net proceeds 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.
Vizsla Silver is a Canadian mineral exploration, and development company focused on advancing its flagship, Panuco silver-gold project, in Sinaloa, Mexico. To date, Vizsla Silver has completed over 210,000 metres of drilling at Panuco, leading to the discovery of several new high-grade veins.
Vizsla Silver Corp. (VZLA) opened trading at C$1.58.