NYSE: VZLA TSX-V:
VZLA
VANCOUVER, BC, Nov. 1, 2024
/PRNewswire/ - Vizsla Silver Corp. (TSXV: VZLA) (NYSE: VZLA)
(Frankfurt: 0G3) ("Vizsla
Silver" or the "Company") is pleased to announce that it
has received conditional approval to graduate from the TSX Venture
Exchange (the "TSXV") and list its common shares (the
"Common Shares") on the Toronto Stock Exchange (the
"TSX").
Final approval of the listing is subject to the Company meeting
certain customary conditions required by the TSX. Upon receipt of
the final TSX approval, the Common Shares will be delisted from the
TSXV and commence trading on the TSX under the symbol "VZLA". The
Company will issue a press release once it has confirmed the date
when trading of the Common Shares is expected to commence on the
TSX.
Shareholders are not required to exchange their share
certificates or direct registration system advices or take any
other action in connection with the listing on the TSX, as there
will be no change in the trading symbol or CUSIP for the Common
Shares.
The Common Shares will continue to trade on the NYSE American
under the symbol "VZLA".
Corporate Update
The Company also announces today a quarterly update with respect
to the Company's previously announced "at-the-market" equity
program (the "ATM Program") launched on September 13, 2024. The ATM Program allows the
Company to issue and sell, from time to time, up to US$100,000,000 (or the Canadian dollar
equivalent) of its common shares ("Common Shares") from
treasury to the public, at the Company's discretion, pursuant to an
equity distribution agreement (the "Equity Distribution
Agreement") among the Company and Canaccord Genuity and CIBC
Capital Markets, as lead agents, and National Bank Financial and
BMO Capital Markets (collectively, the "Agents").
During the quarterly period ended October
31, 2024, the Company issued a total of 3,900,000 Common
Shares on the NYSE American LLC at an average price of US$2.1892 under the ATM Program, providing gross
proceeds of US$8,537,880.00,
respectively. Commissions of US$256,136.40 were paid to the Agents in relation
to these distributions.
For further details on the ATM Program, see the Company's news
release dated September 13, 2024.
About Vizsla Silver
Vizsla Silver is a Canadian mineral exploration and development
company headquartered in Vancouver,
BC, focused on advancing its flagship, 100%-owned
Panuco silver-gold project located
in Sinaloa, Mexico. The Company
recently completed a Preliminary Economic Study for Panuco in July
2024 which highlights 15.2 Moz AgEq of annual production
over an initial 10.6-year mine life, an after-tax NPV5% of
US$1.1B, 86% IRR and a 9-month
payback at US$26/oz Ag and
US$1,975/oz Au. Vizsla Silver aims to
become the world's leading silver company by implementing a dual
track development approach at Panuco, advancing mine development, while
continuing district scale exploration through low-cost means.
Website: www.vizslasilvercorp.ca
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
SPECIAL NOTE REGARDING FORWARD LOOKING STATEMENTS
This news release includes certain "Forward–Looking Statements"
within the meaning of the United States Private Securities
Litigation Reform Act of 1995 and "forward–looking information"
under applicable Canadian securities laws. When used in this news
release, the words "anticipate", "believe", "estimate", "expect",
"target", "plan", "forecast", "may", "would", "could", "schedule"
and similar words or expressions, identify forward–looking
statements or information. These forward–looking statements or
information relate to, among other things: the listing of the
Common Shares on the TSX and other statements that are not
historical facts.
Forward–looking statements and forward–looking information
relating to any future mineral production, liquidity, enhanced
value and capital markets profile of Vizsla Silver, future growth
potential for Vizsla Silver and its business, and future
exploration plans are based on management's reasonable assumptions,
estimates, expectations, analyses and opinions, which are based on
management's experience and perception of trends, current
conditions and expected developments, and other factors that
management believes are relevant and reasonable in the
circumstances, but which may prove to be incorrect. Assumptions
have been made regarding, among other things, the price of silver,
gold, and other metals; costs of exploration and development; the
estimated costs of development of exploration projects; Vizsla
Silver's ability to operate in a safe and effective manner and its
ability to obtain financing on reasonable terms.
These statements reflect Vizsla Silver's respective current
views with respect to future events and are necessarily based upon
a number of other assumptions and estimates that, while considered
reasonable by management, are inherently subject to significant
business, economic, competitive, political and social uncertainties
and contingencies. Many factors, both known and unknown, could
cause actual results, performance, or achievements to be materially
different from the results, performance or achievements that are or
may be expressed or implied by such forward–looking statements or
forward-looking information and Vizsla Silver has made assumptions
and estimates based on or related to many of these factors. Such
factors include, without limitation: the Company's dependence on
one mineral project; precious metals price volatility; risks
associated with the conduct of the Company's mining activities in
Mexico; regulatory, consent or
permitting delays; risks relating to reliance on the Company's
management team and outside contractors; risks regarding mineral
resources and reserves; the Company's inability to obtain insurance
to cover all risks, on a commercially reasonable basis or at all;
currency fluctuations; risks regarding the failure to generate
sufficient cash flow from operations; risks relating to project
financing and equity issuances; risks and unknowns inherent in all
mining projects, including the inaccuracy of reserves and
resources, metallurgical recoveries and capital and operating costs
of such projects; contests over title to properties, particularly
title to undeveloped properties; laws and regulations governing the
environment, health and safety; operating or technical difficulties
in connection with mining or development activities; employee
relations, labour unrest or unavailability; the Company's
interactions with surrounding communities and artisanal miners; the
Company's ability to successfully integrate acquired assets; the
speculative nature of exploration and development, including the
risks of diminishing quantities or grades of reserves; stock market
volatility; conflicts of interest among certain directors and
officers; lack of liquidity for shareholders of the Company;
litigation risk; and the factors identified under the caption "Risk
Factors" in Vizsla Silver's management discussion and analysis.
Readers are cautioned against attributing undue certainty to
forward–looking statements or forward-looking information. Although
Vizsla Silver has attempted to identify important factors that
could cause actual results to differ materially, there may be other
factors that cause results not to be anticipated, estimated or
intended. Vizsla Silver does not intend, and does not assume any
obligation, to update these forward–looking statements or
forward-looking information to reflect changes in assumptions or
changes in circumstances or any other events affecting such
statements or information, other than as required by applicable
law.
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SOURCE Vizsla Silver Corp.
