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Vizsla Copper Announces $5.0 Million Brokered Private Placement Financing
VANCOUVER, British Columbia, May 16, 2023 (GLOBE NEWSWIRE) -- Vizsla Copper Corp. (TSXV: VCU | OTCQB: VCUFF | FRANKFURT: 97E0) (“Vizsla Copper” or the “Company”
About this update from Vizsla Copper Corp
[{"type":"text","content":" VANCOUVER, British Columbia, May 16, 2023 (GLOBE NEWSWIRE) -- Vizsla Copper Corp. (TSXV: VCU | OTCQB: VCUFF | FRANKFURT: 97E0) (“Vizsla Copper” 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”) in connection with a marketed best efforts private placement of up to $5.0 million (the “Offering”) excluding additional proceeds raised from the exercise of the Agents’ Option (as defined below). The Offering will consist of: (i) up to 9,100,000 units (the “Units”) at a price of $0.22 per Unit (“Unit Offering Price”); and(ii) up to 12,500,000 flow-through shares (the “FT Shares”) at a price of $0.24 per FT Share (the “FT Unit Offering Price”) (collectively, “Offered Securities”). The Offered Securities will be offered by way of a best efforts private placement pursuant to exemptions from the prospectus requirements to residents of all Provinces of Canada and such other jurisdictions as may be agreed to by the Company and the Lead Agent. Each Unit shall consist of one common share and one-half of one transferable common share purchase warrant (each whole such common share purchase warrant, a “Warrant”). Each whole Warrant shall be exercisable into one additional common share (a “Warrant Share”) for two years from the Closing Date (as defined below) at an exercise price of $0.30 per Warrant Share. The Company has also granted the Lead Agent an option to increase the size of the offering (the “Agents’ Option”), which will allow the Lead Agent to offer up to an additional 20% of the Offering, on the same terms. The Agents’ Option may be exercised in whole or in part at any time prior to the closing of the Offering, in any combination of Offered Securities. The Company has agreed to pay the Lead Agent a cash commission equal to 6.0% of the gross proceeds from the Offering and issue to the Agents non-transferable warrants (“Compensation Warrants”) equal to 6.0% of the aggregate number of Offered Securities issued under the Offering, other than in respect of a maximum of $1,000,000 in aggregate proceeds of Units and FT Shares issued to certain purchasers on a president’s list to be agreed upon by the Company and the Lead Agent, each acting reasonably (the “President’s List”), in which case the commission and Compensation Warrants in respec...