Business
Vizsla Copper Corp. Announces Closing of Spinout From Vizsla Silver and Closing of Private Placement
VANCOUVER, BC, Sept. 20, 2021 /CNW/ - Vizsla Copper Corp. ("Vizsla Copper" or the "Company") is pleased to announce that the plan of arrangement spinout transac
About this update from Vizsla Copper Corp
[{"type":"text","content":" VANCOUVER, BC, Sept. 20, 2021 /CNW/ - Vizsla Copper Corp. (\"Vizsla Copper\" or the \"Company\") is pleased to announce that the plan of arrangement spinout transaction (the \"Arrangement\") has closed effective September 20, 2021. Pursuant to the Arrangement, holders of common shares of Vizsla Silver Corp. (\"Vizsla Silver\") exchanged their Vizsla Silver shares for one new common share of Vizsla Silver and 1/3 of a Vizsla Copper common share, for a total of 49,217,108 Vizsla Copper shares being issued to Vizsla Silver shareholders under the Arrangement. The Company's board of directors and executive officers are as follows: Craig Parry Director and Executive Chairman Michael Konnert Director Simon Cmrlec Director Karlene Collier Director Chris Donaldson Chief Executive Officer and Director Grant Tanaka Chief Financial Officer Jennifer Hanson Corporate Secretary As previously disclosed by Vizsla Silver, the Company has received conditional approval to list its shares on the TSX Venture Exchange (\"TSXV\"). Final approval is subject to the Company meeting certain standard requirements of the TSXV. The Company expects to satisfy all the requirements and will make a further announcement once the TSXV has issued a bulletin confirming the date on which trading on the TSXV will commence, which the Company expects to occur before the end of September 2021. The trading symbol for the Company's shares will be \"VCU\". Closing of Private Placement In connection with the Arrangement, the Company has completed a non-brokered private placement for gross proceeds of $5,067,669, consisting of 23,816,866 common shares at a purchase price of $0.15 per share for proceeds of $3,572,530, and 8,306,331 flow-through common shares at a purchase price of $0.18 per flow-through share for proceeds of $1,495,140. The Company paid finders' fees in respect of the non-brokered private placement totaling $77,319 in cash and 507,960 finders' warrants each exercisable into one Vizsla Copper share with a 12-month term and an exercise price of $0.25 per share. The securities issued under the private placement are subject to a four month hold period from the date hereof. Certain officers and directors of the Company subscribed in the private placement for t...