Sunday, June 1, 2025

Latest

Vizsla Gets Approval For Copper Spin-Out, Completes $4.2 Million Offering

Vizsla Silver Corp. (TSXV: VZLA) announced today that its shareholders have approved the company’s proposal to spin out its British Columbia copper exploration assets to Vizsla Copper Corp. The approval was handed down in a special shareholders’ meeting on June 15, 2021.

Following the proposed arrangement, Vizsla Copper common shares will be distributed to current Vizsla Silver shareholders at a rate of 1 Vizsla Copper share for every 3 Vizsla Silver shares held. The majority of the shareholders will get their Vizsla Copper shares with no action required, and there will be no change with respect to their stake in Vizsla Silver.

The company spun out Vizsla Copper to enable the new firm to focus on the wholly-owned Blueberry copper project and the option to acquire a 60% stake in Carruthers Pass copper property, both in British Columbia. Viszla Silver will continue to focus on the Panuco Copala silver-gold project in Mexico.

The completion of the approved proposal is still subject to TSX Venture Exchange’s approval of the arrangement, approval of the listing of Viszla Copper shares on the exchange, and the completion of at least $3.5 million private placement by the recently spun-out copper company.

The arrangement is expected to be completed in July 2021.

The company also shared that it has recently completed the previously announced non-brokered private placement for total gross proceeds of $4.2 million. The offering was able to issue 1.7 million units at $2.50 per unit.

Each unit consists of one Viszla Silver common share and one-half of a common share purchase warrant. Each whole warrant is exercisable to purchase one common share at $3.25 within 18 months from closing.

The company intends to use the net proceeds for exploration and development of the Panuco Copala project, option payments and potential future acquisitions, along with working capital and general corporate purposes.

Vizsla Silver last traded at $2.17 on the TSX Venture.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Leave a Reply

Video Articles

Alamos Gold Q1 Earnings: The Inside Scoop

Cerrado Gold Q4 Earnings: The Turnaround is Working

B2GOLD Q1 Earnings: Revenue Up, Production & Cash Flow Decline

Recommended

Canadian Copper: The $172M Combined Strategy PEA

ESGold Begins Concentration Tests Ahead Of First Production

Related News

Pegasus Resources Reports 6,670 G/T Silver, 7.44 G/T Gold In Sample At Gold Mountain Property

Pegasus Resources (TSXV: PEGA) this morning finally announced the results of its fall 2020 prospecting...

Wednesday, January 13, 2021, 09:06:14 AM

Vizsla Silver Hits 901 g/t Silver, 3.25 g/t Gold Over 3.84 Metres

Vizsla Silver (TSXV: VZLA) this morning reported the latest drill results from its flagship Panuco...

Wednesday, November 3, 2021, 07:57:45 AM

Apollo Gold & Silver Announces $40 Million Financing

Apollo Gold & Silver Corp. (TSXV: APGO) announced today that they will be conducting a...

Monday, June 7, 2021, 08:44:03 AM

Vizsla Reports Further Drill Results, Including 449 G/T Silver Equivalent Over 15.3 Metres

Vizsla Resources (TSXV: VZLA) reported assay results from sixteen additional holes at its Panuco project...

Tuesday, October 6, 2020, 08:14:34 AM

Mining Ultra High-Grade Silver at Very Low Costs | MAG Silver – George Paspalas

In this interview, George Paspalas, President and CEO of MAG Silver Corp. (TSX/NYSE: MAG), provides...

Tuesday, November 26, 2024, 12:29:00 PM