VIZSLA SILVER CLOSES US$100M BOUGHT DEAL OFFERING

Rhea-AI Summary

Vizsla Silver (NYSE:VZLA) has successfully completed its previously announced bought deal public offering, raising US$100 million through the sale of 33,334,000 common shares at US$3.00 per share.

The offering was led by Canaccord Genuity as sole bookrunner, with participation from CIBC Capital Markets, National Bank Financial, Ventum Financial, BMO Capital Markets, and Raymond James. The company has granted underwriters a 30-day over-allotment option to purchase up to 5,000,100 additional shares.

The net proceeds will be used to advance the exploration and development of the Panuco Project, exploration of the Santa Fe Project, potential future acquisitions, and working capital purposes.

Positive

• Successful completion of a significant US$100M capital raise
• Strong syndicate of underwriters including major financial institutions
• Additional funding flexibility through 5,000,100 share over-allotment option
• Proceeds will advance exploration and development of key projects

Negative

• Significant shareholder dilution from issuing 33.3M new shares
• Share price dilution at US$3.00 per share offering price

Insights

Mining Industry Financial Analyst

Vizsla Silver's $100M capital raise significantly strengthens its treasury, accelerating development timelines for its flagship Panuco project.

Vizsla Silver has successfully closed a substantial US$100 million bought deal offering, selling 33.33 million shares at US$3.00 per share. This capital raise represents a major financial milestone that dramatically strengthens the company's balance sheet and provides significant operational runway. The deal's successful completion indicates strong institutional investor confidence, evidenced by participation from major financial institutions including Canaccord Genuity, CIBC, and BMO Capital Markets.

The substantial capital infusion comes at a strategic time as Vizsla transitions from pure exploration to advanced development at its flagship Panuco silver-gold project in Mexico. The $100M war chest provides sufficient funding to accelerate exploration activities, potentially expand the resource base, and advance development studies without near-term dilution concerns. Additionally, the company has positioned itself for opportunistic acquisitions in the precious metals space with its explicit mention of "potential future acquisitions" in its use of proceeds.

The over-allotment option for an additional 5 million shares could potentially add another $15 million to the treasury if exercised within the 30-day window. This successful financing elevates Vizsla's status among junior silver developers, giving it exceptional financial flexibility compared to peers in a capital-intensive industry where project advancement is directly tied to available funding. The financing's size relative to the company's market capitalization signals a transformative event that could materially accelerate development timelines.

VANCOUVER, BC, June 26, 2025 /PRNewswire/ - Vizsla Silver Corp. (TSX: VZLA) (NYSE: VZLA) (Frankfurt: 0G3) ("Vizsla Silver" or the "Company") is pleased to announce that it has completed its previously announced bought deal public offering of 33,334,000 common shares of the Company (the "Common Shares") at a price of US$3.00 per Common Share (the "Offering Price") for aggregate gross proceeds of US$100,002,000 (the "Offering"). The Offering was led by Canaccord Genuity, as sole bookrunner and lead underwriter, on behalf of a syndicate of underwriters that included CIBC Capital Markets, National Bank Financial Inc., Ventum Financial Corp., BMO Capital Markets and Raymond James Ltd. (collectively, the "Underwriters"). The Company has granted the Underwriters an over-allotment option, exercisable at the Offering Price for a period of 30 days after and including the closing date of the Offering, to purchase up to an additional 5,000,100 Common Shares.

The Common Shares were offered pursuant to a final prospectus supplement of the Company dated June 23, 2025 (the "Prospectus Supplement") to the short form base shelf prospectus of the Company dated April 28, 2025 (the "Base Shelf Prospectus"), in all of the provinces of Canada, except Quebec, and in the United States pursuant to a prospectus supplement dated June 23, 2025 (the "US Prospectus Supplement") filed as part of an effective registration statement on Form F-10 filed under the Canada/U.S. multi-jurisdictional disclosure system. The Offering remains subject to the final approval of the Toronto Stock Exchange (the "TSX").

The net proceeds of the Offering are expected to be used to advance the exploration and development of the Panuco Project, exploration of the Santa Fe Project, potential future acquisitions, as well as for working capital and general corporate purposes as set out in the Prospectus Supplement.

Copies of the applicable offering documents can be obtained free of charge under the Company's profile on SEDAR+ at www.sedarplus.ca and EDGAR at www.sec.gov. Delivery of the Base Shelf Prospectus and the Prospectus Supplement and any amendments thereto will be satisfied in accordance with the "access equals delivery" provisions of applicable Canadian securities legislation. An electronic or paper copy of the Prospectus Supplement, the US Prospectus Supplement, the Base Shelf Prospectus and the Registration Statement may be obtained, without charge, from Canaccord Genuity by phone at 416-869-3052 or by e-mail at ecm@cgf.com by providing Canaccord Genuity with an email address or address, as applicable.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Vizsla Silver

Vizsla Silver is a Canadian mineral exploration and development company headquartered in Vancouver, BC, focused on advancing its flagship, 100%-owned Panuco silver-gold project located in Sinaloa, Mexico. The Company recently completed a Preliminary Economic Study for Panuco in July 2024 which highlights 15.2 Moz AgEq of annual production over an initial 10.6-year mine life, an after-tax NPV5% of US$1.1B, 86% IRR and a 9-month payback at US$26/oz Ag and US$1,975/oz Au. Vizsla Silver aims to become the world's leading silver company by implementing a dual track development approach at Panuco, advancing mine development, while continuing district scale exploration through low-cost means.

Website: www.vizslasilvercorp.ca  

SPECIAL NOTE REGARDING FORWARD LOOKING STATEMENTS

This news release includes certain "Forward Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward looking information" under applicable Canadian securities laws, including those relating to information contained in the Preliminary Economic Study (including annual production, mine life, NPV, IRR and payback) and also regarding the terms of the Offering and the expected use of proceeds thereof, which ultimately remains the subject of the Company's discretion, and final approval of the TSX. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target", "plan", "forecast", "may", "would", "could", "schedule" and similar words or expressions, identify forward looking statements or information.

Forward looking statements and forward looking information are based on management's reasonable assumptions, estimates, expectations, analyses and opinions, which are based on management's experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Assumptions have been made regarding, among other things, the price of silver, gold, and other metals; costs of exploration and development; the estimated costs of development of exploration projects; Vizsla Silver's ability to operate in a safe and effective manner and its ability to obtain financing on reasonable terms.

These statements reflect Vizsla Silver's respective current views with respect to future events and are necessarily based upon a number of other assumptions and estimates that, while considered reasonable by management, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward looking statements or forward-looking information and Vizsla Silver has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the Company's dependence on one mineral project; precious metals price volatility; risks associated with the conduct of the Company's mining activities in Mexico; regulatory, consent or permitting delays; risks relating to reliance on the Company's management team and outside contractors; risks regarding mineral resources and reserves; the Company's inability to obtain insurance to cover all risks, on a commercially reasonable basis or at all; currency fluctuations; risks regarding the failure to generate sufficient cash flow from operations; risks relating to project financing and equity issuances; risks and unknowns inherent in all mining projects, including the inaccuracy of reserves and resources, metallurgical recoveries and capital and operating costs of such projects; contests over title to properties, particularly title to undeveloped properties; laws and regulations governing the environment, health and safety; operating or technical difficulties in connection with mining or development activities; employee relations, labour unrest or unavailability; the Company's interactions with surrounding communities and artisanal miners; the Company's ability to successfully integrate acquired assets; the speculative nature of exploration and development, including the risks of diminishing quantities or grades of reserves; stock market volatility; conflicts of interest among certain directors and officers; lack of liquidity for shareholders of the Company; litigation risk; and the factors identified under the caption "Risk Factors" in the Prospectus Supplement, the US Prospectus Supplement and Vizsla Silver's management discussion and analysis. Readers are cautioned against attributing undue certainty to forward looking statements or forward-looking information. Although Vizsla Silver has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be anticipated, estimated or intended. Vizsla Silver does not intend, and does not assume any obligation, to update these forward looking statements or forward-looking information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements or information, other than as required by applicable law.

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SOURCE Vizsla Silver Corp.

FAQ

How much did Vizsla Silver (VZLA) raise in their June 2025 offering?

Vizsla Silver raised US$100,002,000 through a bought deal public offering of 33,334,000 common shares at US$3.00 per share.

What is the price per share for Vizsla Silver's 2025 bought deal offering?

The offering price was set at US$3.00 per common share.

How will Vizsla Silver use the proceeds from their US$100M offering?

The net proceeds will be used to advance exploration and development of the Panuco Project, explore the Santa Fe Project, fund potential future acquisitions, and for working capital and general corporate purposes.

Who were the underwriters for Vizsla Silver's 2025 bought deal offering?

The offering was led by Canaccord Genuity as sole bookrunner, with a syndicate including CIBC Capital Markets, National Bank Financial, Ventum Financial, BMO Capital Markets, and Raymond James.

What is the over-allotment option in Vizsla Silver's 2025 offering?

The underwriters have a 30-day option to purchase up to an additional 5,000,100 common shares at the offering price of US$3.00 per share.