Vizsla Silver informs shareholders about upcoming spin-off of Vizsla Royalties

Vizsla Silver Corp., a mineral exploration and development company based in Vancouver, Canada, has reminded its shareholders of important upcoming dates related to the planned spin-off of Vizsla Royalties Corp. The decision on the arrangement will be made on June 17, 2024, at a special shareholders’ meeting. Should the spin-off be approved, Vizsla Silver will immediately seek court approval from the Supreme Court of British Columbia. The completion of the measures is expected around June 24, 2024. Shareholders registered by the record date of June 21, 2024, will receive one-third of a new common share of Vizsla Royalties (Spinco share) and one-third of a warrant to purchase additional Spinco shares for each Vizsla Silver share held. These warrants can be exercised at a fixed price of $0.05 per share until the end of 2025, provided that the share distribution occurs as planned. Following the arrangement, existing shareholders of Vizsla Silver are expected to hold approximately 45% of the issued Spinco shares, with the remainder retained by Vizsla Silver. An application for the listing of Spinco shares and warrants on the TSX Venture Exchange has already been submitted, although there is no guarantee when or if such listing will be successfully achieved. Vizsla Silver and Spinco plan several financial and operational steps post-arrangement. These include the conversion of a loan into shares, the granting of an additional loan of $3.5 million, and a capital increase through a private placement expected to raise at least $3 million. Additionally, there will be a consolidation of Spinco shares at a ratio of 1:10. The high-grade Panuco silver-gold project, which Vizsla Silver is developing, remains a strategic focus of the company. The mineral resource estimate published in January 2024 indicates significant reserves and forms the basis for future exploration and development activities. For further questions and information, shareholders and interested parties can contact Vizsla Silver.