Vizsla Silver announces $30M bought deal financing

Vizsla Silver entered into an agreement with PI Financial Corp. as sole bookrunner and lead underwriter, on its own behalf and on behalf of a syndicate of underwriters, pursuant to which the Underwriters have agreed to purchase, on a “bought deal” basis, 20,000,000 common shares of the Company at a price of $1.50 per Share for aggregate gross proceeds of $30,000,000, excluding additional proceeds raised from the exercise of the Over-Allotment Option. The Company has agreed to grant the Underwriters an option to cover over-allotments, which will allow the Underwriters to purchase up to an additional 15% of the Shares sold pursuant to the Offering, on the same terms as the Offering. The Over-Allotment Option may be exercised in whole or in part at any time, for a period of 30 days after the Closing Date. 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 Shares will be offered in each of the provinces and territories of Canada by way of a prospectus supplement to the Company’s base shelf prospectus dated March 31, 2023, which will be filed with the securities regulators in each of the provinces and territories of Canada, and may also be offered by way of private placement in the United States and such other jurisdictions as agreed between the parties. The closing of the Offering is anticipated to occur on or about February 29, 2024 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.