Vizsla Resources Announces Closing of Final Tranche of C$4 Million Brokered Private Placement
05 Diciembre 2019 - 4:25PM
Vizsla Resources Corp. (TSX.V: VZLA) (“Vizsla
Resources” or the “Company”) is pleased to announce that it has
closed the final tranche of the previously announced $4 million
private placement (the “Offering”), led by PI Financial Corp. and a
syndicate of agents (collectively, the “Agents”) for additional
gross proceeds of $376,600 (the “Second Tranche”).
Under the Second Tranche, the Company issued
941,500 common shares (the “Shares” or the “Common Shares”) at a
price of $0.40 (the “Issue Price”), for gross proceeds of $376,600.
The Company paid a cash commission equal to 6% of the gross
proceeds of the Second Tranche and issued 56,490 compensation
options (the “Compensation Options”) to the Agents. Each
Compensation Option is exercisable to acquire one Common Share at
the Issue Price until December 5, 2021. The Agents also received a
corporate finance fee consisting of a cash payment of $80,000 and
200,000 Corporate Finance Warrants in connection with the
Offering.
The net proceeds from
the Offering will be used for exploration
expenditures and subsequently initiating a drilling
work program in the future on the recently
consolidated Panuco-Copala precious metals district in
Mexico and for working capital.
The Company expects to close
the previously announced $2 million non-brokered private
placement on or about December 12, 2019.
All securities issued under the Offering will be
subject to a statutory hold period in Canada expiring four months
and one day from the date of issuance.
Completion of the Offering is subject to the
final approval of the TSX Venture Exchange.
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.
On behalf of the Board of Directors,
Michael KonnertPresident and CEO
About Vizsla Resources
Vizsla Resources is led by an experienced
management team and the Company has an option to acquire 100% of
the newly-consolidated 9,386.5 Ha Panuco district in southern
Sinaloa, Mexico, in the Municipio of Concordia. The property covers
the historic Panuco-Copala silver and gold mining district that has
been in production for over 450 years. The option allows for the
acquisition of a mill, mines, tailings facilities, roads, power and
permits. Recent results from the project have demonstrated
high-grade silver and gold results.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
This news release contains forward-looking
information, which involves known and unknown risks, uncertainties
and other factors that may cause actual events to differ materially
from current expectation. Important factors - including the
availability of funds, the results of financing efforts, the
completion of due diligence and the results of exploration
activities - that could cause actual results to differ materially
from the Company's expectations are disclosed in the Company's
documents filed from time to time on SEDAR (see www.sedar.com).
Forward-looking statements in this news release include, but are
not limited to, statements regarding the use of proceeds from the
Offering. Readers are cautioned not to place undue reliance on
these forward-looking statements, which speak only as of the date
of this news release. The Company disclaims any intention or
obligation, except to the extent required by law, to update or
revise any forward-looking statements, whether as a result of new
information, events or otherwise.
Karlene CollierSenior Corporate
Managerkarlene@inventacapital.ca 604.818.1630
Vizsla Silver (TSXV:VZLA)
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