- Vizsla Silver Corp. (VZLA) has upsized its bought-deal financing from about $20 million to about $30 million
- The company’s bought-deal financing was increased as a result of strong investor demand
- The net proceeds of the offering will be used to advance the exploration and development of Panuco
- Vizsla Silver is a Canadian mineral exploration and development company headquartered in Vancouver, BC, advancing its flagship Panuco silver-gold project in Sinaloa, Mexico
- Vizsla Silver Corp. was down 5.063 per cent, trading at $1.50 at 1:21 PM ET
Vizsla Silver Corp. (VZLA) has upsized its bought-deal financing to about $30 million.
The previously-announced bought deal financing, which was for approximately $20 million, was increased as a result of strong investor demand.
Under the offering, a syndicate of underwriters co-led by PI Financial Corp. and Canaccord Genuity Corp. have agreed to purchase, on a “bought deal” basis, 20,700,000 units of the company at a price of $1.45 per unit.
Each unit shall consist of one common share in the capital of the company and one-half of one common share purchase warrant.
Each warrant shall be exercisable into one common share of the Company for a period of 24 months from closing at an exercise price of $2.00 per warrant share.
The offering is expected to close on or about November 15, 2022, 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.
The newly consolidated Panuco silver-gold project is an emerging high-grade discovery located in southern Sinaloa, Mexico, near the city of Mazatlán.
Vizsla Silver is a Canadian mineral exploration and development company headquartered in Vancouver, BC, focused on advancing its flagship, 100-per-cent-owned Panuco silver-gold project located in Sinaloa, Mexico.
Vizsla Silver Corp. was down 5.063 per cent, trading at $1.50 at 1:21 PM ET.
