Commodity-TV

The whole world of commodities in one App!

Watch Management & Expert Interviews, Site-Visit-Videos, News Shows and receive top and up to date Mining Information on your mobile device worldwide!

Download our unique App for free!
Commodity-TV Play Store
Commodity-TV App Store
Commodity-TV

Social Media


Vizsla Silver Obtains Shareholder and Court Approval of Spin-Out of Copper Exploration Assets and Closes the C$4 Million Non-Brokered Private Placement

Receive up-to-date information about the company directly via push notification

Vancouver, British Columbia, June 21, 2021Vizsla Silver Corp. (TSXV: VZLA) (OTCQB: VIZSF) (Frankfurt: 0G3) (“Vizsla Silver” or the “Company” - https://www.commodity-tv.com/ondemand/companies/profil/vizsla-silver-corp/ ) is pleased to announce that at its special meeting of shareholders held June 15, 2021, all of the resolutions were duly passed, including the special resolution to approve the proposal plan of arrangement (the “Arrangement”) pursuant to which Vizsla Silver will spin-out its British Columbia copper exploration assets to Vizsla Copper Corp. (“Vizsla Copper” or “SpinCo”). Also, today the Supreme Court of British Columbia approved the Arrangement under the terms of the Business Corporations Act (British Columbia).

Common shares of Vizsla Copper (the “SpinCo Shares”) will be distributed to shareholders of Vizsla Silver (the “Shareholders”) on the basis of one Vizsla Copper share for every three common shares of Vizsla Silver. The Arrangement will not result in any change to a shareholder’s ownership of Vizsla Silver. The majority of shareholders (those who hold their shares through their broker) will receive their SpinCo Shares with no further action.

Once the Arrangement becomes effective, Shareholders will own shares in both public companies: (i) Vizsla Copper, which will focus on the 100% owned Blueberry copper project located in the Babine porphyry belt of Central British Columbia and the option to acquire a 60% interest in the Carruthers Pass copper property located 200 kilometres north of Smithers, British Columbia, and (ii) Vizsla Silver, which will continue to advance the Panuco Copala silver-gold project in Mexico.

Completion of the Arrangement is subject to a number of customary conditions, including the following:

(a) TSX Venture Exchange (“TSXV”) approval of the Arrangement by Vizsla Silver;

(b) TSXV approval for the listing of the SpinCo Shares upon completion of the Arrangement; and

(c) completion of a private placement by SpinCo to raise gross proceeds of up to $3,500,000.

Assuming the timely completion of these conditions, the Company expects the Arrangement to close in July 2021.

The Company also announces that it has completed its non-brokered private placement (the “Private Placement”) previously announced on June 3, 2021. The Company issued a total of 1,690,000 units (the “Units”) at a price of C$2.50 per unit for gross proceeds of C$4,225,000.

Each Unit consists of one common share of the Company and one-half of one common share purchase warrant (each whole common share purchase warrant, a “Private PlacementWarrant”). Each Private Placement Warrant entitles the holder to acquire one common share of the Company for 18 months from the closing of the Private Placement at a price of C$3.25.

The Company paid cash finder’s fees equal to 6% of the gross proceeds and issued broker warrants of the Company, exercisable at any time on or before December 18, 2022, to acquire that number of common shares in the capital of the Company which is equal to 6% of the number of Units sold under the Private Placement at an exercise price of C$2.50.

The securities issued pursuant to the Offering have a hold period of four months and one day from closing, expiring on October 19, 2021.

The net proceeds of the Private Placement will be used to advance the exploration and development of the Company’s Panuco project, to make option payments and pursue potential future acquisitions, as well as for working capital and general corporate purposes.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or under any U.S. state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act, as amended, and applicable state securities laws.

About the Panuco project

Vizsla has an option to acquire 100% of the newly consolidated 9,386.5-hectare Panuco district in southern Sinaloa, Mexico, near the city of Mazatlán. The option allows for the acquisition of over 75 kilometres of total vein extent, a 500 ton per day mill, 35 kilometres of underground mines, tailings facilities, roads, power and permits.

The district contains intermediate to low sulfidation epithermal silver and gold deposits related to siliceous volcanism and crustal extension in the Oligocene and Miocene. Host rocks are mainly continental volcanic rocks correlated to the Tarahumara Formation.

About the Blueberry Project

The Blueberry property is located ~60 kilometres southwest of the town of Houston, British Columbia. The property falls within the jurisdiction of the Omineca Mining Division. The property benefits from ample access through a network of resource roads on the property.

About the Carruthers Pass Property

The Carruthers Pass property consists of eight contiguous mineral claims covering 3,250 hectares approximately 200 kilometers northeast of the community of Smithers. The Kemess Mine Road passes 25 kilometers north and east of the claims while industrial logging roads extend from Takla Lake northward to within 35 kilometers of the Property. The Property covers an isolated group of topographically high peaks and the lower area surrounding the range. The Property consists of 8 contiguous claims, as 130 units covering approximately 3,250 hectares.

Contact Information: For more information and to sign-up to the mailing list, please contact:

Michael Konnert, President and Chief Executive Officer

Tel: (604) 838-4327 | Email: [email protected]

In Europe:

#BBD0E0 »

Always up to date with the newsletter from SRC

Swiss Resource Capital AG will use the information you provide in this form to keep in touch with you and to provide you with updates and marketing information. To receive our news, you still have to give us permission to send you E-Mails below.

You can change your mind at any time by clicking on the Unsubscribe link, which you can find in the footer of every email you receive from us, or by contacting us at [email protected] We will treat your information with care and respect. For more information about our privacy practices, visit our website. By clicking below, you agree that we may process your information in accordance with these Terms.

We use Mailchimp as our marketing platform. By clicking below to subscribe, you acknowledge that your information will be transferred to Mailchimp for processing. Learn more about Mailchimp's privacy practices here.

* indicates required
SRC Mining & Special Situations ZertifikatSRC Mining & Special Situations Zertifikat