The Prospector News

VIZSLA COPPER ANNOUNCES CLOSING OF BROKERED PRIVATE PLACEMENT FOR GROSS PROCEEDS OF C$5.46 MILLION

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

VIZSLA COPPER ANNOUNCES CLOSING OF BROKERED PRIVATE PLACEMENT FOR GROSS PROCEEDS OF C$5.46 MILLION

 

 

 

 

 

Vizsla Copper Corp. (TSX-V: VCU) (OTCQB: VCUFF) is pleased to announce the closing of its previously announced marketed best efforts brokered private placement for aggregate gross proceeds of approximately C$5,463,000. Under the Offering, the Company sold 9,379,088 units of the Company at a price of C$0.11 per Unit and 36,923,800 flow-through units of the Company at a price of C$0.12 per FT Unit.

 

Each Unit consists of one common share of the Company and one half of one common share purchase warrant. Each FT Unit consists of one common share of the Company to be issued as a “flow-through share” within the meaning of the Income Tax Act (Canada) and one half of one Warrant. Each whole Warrant shall entitle the holder to purchase one common share of the Company at a price of $0.16 at any time on or before June 19, 2026.

 

Chairman and CEO Craig Parry commented “The upsizing and closing of this financing demonstrate the strong support for what we are building at Vizsla Copper. We’ve recently seen the copper price rise to an all-time high, reflecting the tightness of the copper market. Economists forecast that copper will be in increasingly short supply for years to come, and higher copper prices will ensue. In this environment, copper projects in safe, stable jurisdictions like ours in British Columbia will become more prized and valuable over coming years. We will update the market in the near future on our upcoming fully funded drill program at the highly prospective Woodjam Copper-Gold Project in central British Columbia.”

 

The Offering was conducted by Red Cloud Securities Inc. acting as lead agent and sole bookrunner, and Agentis Capital Markets Limited Partnership.  In connection with the Offering, the Company paid to the Agents a cash commission of C$285,729.35 and issued 2,404,580 broker warrants.  Each Broker Warrant is exercisable into one common share of the Company at a price of $0.11 per share at any time on or before June 19, 2026.

 

The Company intends to use the net proceeds from the sale of Units for working capital and general corporate purposes. The gross proceeds from the sale of the FT Units will be used by the Company to incur eligible “Canadian exploration expenses” that will qualify as “flow-through mining expenditures” as such terms are defined in the Income Tax Act (Canada) related to the Company’s projects in British Columbia, Canada. All Qualifying Expenditures will be renounced in favour of the subscribers of the FT Units effective December 31, 2024.

 

The Offered Securities are subject to a four-month and one day hold period under applicable Canadian securities laws. Closing of the Offering is subject to final approval of the TSX Venture Exchange.

 

Directors and officers of the Company subscribed for an aggregate of 1,563,636 Units and 3,241,667 FT Units for gross proceeds of $561,000 under the Offering. Participation by insiders of the Company in the Offering constitutes a related-party transaction as defined under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions. The issuance of securities is exempt from the formal valuation requirements of Section 5.4 of MI 61-101 pursuant to Subsection 5.5(b) of MI 61-101 as the common shares of the Company are listed on the TSX-V. The issuance of securities is also exempt from the minority approval requirements of Section 5.6 of MI 61-101 pursuant to Subsection 5.7(1)(b) of MI 61-101 as the fair market value was less than $2,500,000.

 

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 Copper

 

Vizsla Copper is a Cu-Au-Mo focused mineral exploration and development company headquartered in Vancouver, Canada. The Company is primarily focused on its flagship Woodjam project, located within the prolific Quesnel Terrane, 55 kilometers east of the community of Williams Lake, British Columbia. It has three additional copper exploration properties: Copperview, Redgold and Carruthers Pass, all well situated amongst significant infrastructure in British Columbia. Following closing of the Arrangement, Vizsla Copper will control a fifth project, the Poplar Project. The Company’s growth strategy is focused on the exploration and development of its copper properties within its portfolio in addition to value accretive acquisitions. Vizsla Copper’s vision is to be a responsible copper explorer and developer in the stable mining jurisdiction of British Columbia, Canada and it is committed to socially responsible exploration and development, working safely, ethically and with integrity.

 

Posted June 19, 2024

Share this news article

MORE or "UNCATEGORIZED"


G Mining Ventures Announces Closing of Private Placements and Receipt of Final Order for Arrangement with Reunion Gold

All amounts are in USD unless stated otherwise $50 million privat... READ MORE

July 12, 2024

SilverCrest Provides Second Quarter Operational Results

Record Revenue, Treasury Assets Increased by 34% During the Quart... READ MORE

July 12, 2024

New Found Intercepts Nine New Gold Zones Spanning 3km in Strike, Doubles Known Vertical Extent of Gold Mineralization to 820m Depth at Queensway

New Found Gold Corp. (TSX-V: NFG) (NYSE-A: NFGC) is pleased to a... READ MORE

July 11, 2024

Kobo Resources Reports Significant Gold Intersections at its Kossou Gold Project With 9.0 Metres at 23.89 g/t Au, Including 1.0 Metre at 210.00 g/t Au and 9.0 Metres at 4.27 g/t Au

Completion of First Diamond Drill Program with 25 Holes (4,368 m)... READ MORE

July 11, 2024

International Battery Metals (IBAT) Commences Operations of World's First Commercial Modular Direct Lithium Extraction (DLE) Plant and First Commercial DLE Plant in North America

Industry-disrupting technology breakthrough vaults IBAT to global... READ MORE

July 11, 2024

Copyright 2024 The Prospector News