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Vizsla Silver Announces Upsize of Private Placement Financing to $39 Million
VANCOUVER, British Columbia, Jan. 27, 2023 (GLOBE NEWSWIRE) -- Vizsla Silver Corp. (TSX-V: VZLA) (NYSE: VZLA) (Frankfurt: 0G3) (“Vizsla Silver” or the “Company”
About this update from Vizsla Silver Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, Jan. 27, 2023 (GLOBE NEWSWIRE) -- Vizsla Silver Corp. (TSX-V: VZLA) (NYSE: VZLA) (Frankfurt: 0G3) (“Vizsla Silver” or the “Company”) is pleased to announce that due to strong institutional investor demand, it has entered into an agreement with PI Financial Corp. as sole bookrunner and lead agent (the \"Lead Agent\"), on behalf of a syndicate of agents (together with the Lead Agent, the \"Agents\") to increase the size of the previously announced commercially reasonable efforts private placement from $34,006,500 to $39,149,550 (the “Offering”). Pursuant to the amended terms, the Offering will consist of 23,727,000 common shares (the “Shares”) of the Company at a price of $1.65 per Share (the \"Offering Price\") for aggregate gross proceeds of $39,149,550, excluding any additional proceeds raised from the exercise of the Agents’ Option (defined below). The Company will grant the Agents an option (the “Agents’ Option”), which will allow the Agents to offer up to an additional 15% 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 Date of the Offering. The net proceeds from the Offering will be used to advance the exploration, drilling and development of the Company’s Panuco Project, as well as for working capital and general corporate purposes. The closing of the Offering is anticipated to occur on or around February 9, 2023 (the “Closing Date”) and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals, including the acceptance of the TSX Venture Exchange. All securities issued under the Offering will be subject to a statutory hold period in Canada expiring four months and one day from the Closing Date. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. About the Panuco project The newly consolidated Panuco sil...