Vizsla Silver Corp. (VZLA,VZLA.TO) announced that it plans to offer convertible senior unsecured notes due 2031 in an aggregate principal amount of US$250 million. The Company expects to grant the initial purchasers of the Notes an option for a period of 13 days, beginning on, and including the date on which the Notes are first issued, to purchase up to an additional US$50 million aggregate principal amount of Notes.
The Notes will mature on January 15, 2031, unless earlier converted, redeemed or repurchased.
The company intends to use the net proceeds from the Offering to support the exploration and development of the Panuco Project, potential future acquisitions, as well as for general corporate purposes.
Additionally, the Company intends to pay the purchase price for the capped call transactions with a portion of the net proceeds from the Offering or from existing cash on hand. If the initial purchasers exercise their option to purchase additional Notes, the Company expects to use a portion of the net proceeds from the sale of the additional Notes to enter into additional capped call transactions with the capped call counterparties and the remaining net proceeds for general corporate purposes.
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