Vizsla Resources Corp Announces Closing of Non-Brokered Private Placement
Vancouver, December 20, 2019 - Vizsla Resources Corp. (TSXV:VZLA) ("Vizsla" or the "Company") is pleased to report that it has closed the non-brokered private placement (the "Private Placement") as previously announced on November 14, 2019. Full proceeds issued under both the non-brokered and brokered financing was for a total of C$6,000,000. The Company previously announced the closing of its brokered financing on November 28, 2019 and December 5, 2019, respectively. President and CEO., Michael Konnert stated "The Company is now well-funded for drilling and exploration on the newly consolidated Panuco-Copala silver-gold district in Mexico. We have just raised a total of C$6,000,000 and we are excited to explore the potential of the project in 2020."
Pursuant to the Private Placement, Vizsla issued 5,051,939 common shares ("Shares") of the Company at a price of C$0.40 per Share for gross proceeds of approximately C$2,020,776. The Company paid finders' fee on a portion of the Private Placement of 6.0% in the form of cash and broker warrants to purchase such number of Shares as is equal to 6.0% of the number of Shares issued under the Private Placement at an exercise price equal to C$0.40 per Share for a period of 24 months from closing.
All securities issued pursuant to the Private Placement will be subject to a four-month hold period under applicable Canadian securities laws. Net proceeds from the Private Placement 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.
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.
About Vizsla Resources Corp.
Vizsla Resources is led by an experienced management team, and the company has an option to acquire 100 per cent of the newly consolidated, 9,386.5-hectare Panuco district in southern Sinaloa, Mexico. The property covers the historic Panuco-Copala silver and gold mining district that has been in production for over 450 years. Recent results from the project have demonstrated high-grade silver and gold results.
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: michael@inventacapital.ca
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 news release.
Cautionary Note Regarding Forward-Looking Information
Certain statements in this press release related to the Private Placement, the securities issuable thereunder and the intended use of proceeds are forward-looking statements and are prospective in nature. Certain statements in this release are forward-looking statements, which include regulatory approvals, the business of the Company and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. Forward-looking statement are necessarily based upon a number of factors that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements express or implied by such statements. The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.
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