UNITED STATES
SECURITIES AND EXCHANGE
COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN
PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
OF THE SECURITIES EXCHANGE
ACT OF 1934
For the month
of June 2024
Commission File
Number: 001-41225
VIZSLA SILVER CORP.
(Registrant)
Suite 700, 1090 West Georgia
Street
Vancouver, British Columbia
V6E 3V7 Canada
(Address
of Principal Executive Offices)
Indicate by check mark whether the Registrant
files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☐ Form 40-F ☒
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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VIZSLA SILVER CORP. |
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(Registrant) |
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Date:
June 11, 2024 |
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By |
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/s/ Michael Konnert |
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Michael Konnert |
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Chief Executive Officer |
EXHIBIT INDEX
EXHIBIT 99.1
Vizsla Silver Reminds Shareholders about Important
Dates in Connection with the Potential Spinout of Vizsla Royalties
NYSE: VZLA
TSX-V: VZLA
VANCOUVER, BC, June 11, 2024 /CNW/ - Vizsla Silver
Corp. (TSXV: VZLA) (NYSE: VZLA) (Frankfurt: 0G3) ("Vizsla Silver" or the "Company") wants to remind
its valued shareholders that if the spinout of Vizsla Royalties Corp. (the "Arrangement") is approved at the Special
Meeting being held on June 17, 2024, the Company will seek a final order from the Supreme Court of British Columbia (the "Court")
to approve the Arrangement and closing will occur on or about June 24, 2024. It anticipates that June 21, 2024, will be the record
date (the "Record Date"), which shareholders of record will be entitled to receive spinout shares and spinout warrants.
The owners of common shares of Vizsla Silver (each
a "Vizsla Silver Share") are entitled to receive one-third of a common share of Vizsla Royalties Corp. (the "Spinco
Shares") and one-third of a common share purchase warrant of Vizsla Royalties Corp. (the "Spinco Warrants")
for each Vizsla Silver Share held on the Record Date. Each full Spinco Warrant will entitle the holder thereof to purchase one Spinco
Share at an exercise price of $0.05 per share for a period expiring on the earlier of: (i) 120 days after the date the Spinco Shares and
Spinco Warrants are listed on the TSX Venture Exchange (the "TSXV"); and (ii) December 31, 2025.
Current Holders of Vizsla Silver Corp. Warrants
For any current outstanding Vizsla Silver Corp. Warrants
("Vizsla Silver Warrants") held on the Record Date that are exercised for the original exercise price following the completion
of the Arrangement, the Warrantholder will be entitled to receive, and will accept (in lieu of the Vizsla share to which such Warrantholder
was until then entitled), one New Vizsla Silver share and one-third of one SpinCo Share. Any fractional entitlements to SpinCo Shares
will be rounded down, and no fractional SpinCo Shares will be issued.
Any Warrantholders that exercise their warrants before
June 20, 2024, to receive the Vizsla Silver Shares and holds those shares on the Record Date, will receive one-third of a common share
of a Spinco Share and one-third of a common share purchase warrant of a Spinco Warrant. Anyone Warrantholder wishing to exercise
their warrants can contact, Jennifer Hanson, Corporate Secretary, jen@vizslasilver.ca.
This announcement is for informational purposes only
and does not constitute a solicitation or a proxy.
Post-Arrangement Matters
Immediately after completion of the Arrangement, shareholders
of Vizsla Silver are expected to hold approximately 45% of the issued and outstanding Spinco Shares, while Vizsla Silver will retain the
remaining approximately 55%.
Spinco has made an application to list the Spinco
Shares and Spinco Warrants on the TSXV. There is no guarantee when, or if, such listings will be completed. Such listings will be subject
to Spinco fulfilling all of the listing requirements of the TSXV.
Following closing of the Arrangement, Vizsla Silver
and Spinco intend to complete a number of steps, including the following (collectively, the "Post-Closing Steps"): (a)
the parties will settle an outstanding loan from Vizsla Silver into Spinco Shares, (b) Vizsla Silver will make an additional $3,500,000
loan to Spinco, (c) Spinco will exercise its buyback right on an underlying royalty on the Panuco Project, after which point the
royalty held by Spinco will consist of a 2% net smelter returns royalty on the entire Panuco Project, (d) Spinco will complete a private
placement for gross proceeds of at least $3,000,000, and (e) Spinco will complete a consolidation of the Spinco Shares on the basis of
one new Spinco Share for every ten old Spinco Shares.
Vizsla Silver and Spinco have entered into a royalty
right agreement which provides that, if Vizsla Silver or any of its affiliates acquires any a mineral property within a two-kilometer
boundary around the Panuco Project, it must offer Spinco a net smelter returns royalty on such mineral property to Spinco on terms proposed
by Vizsla Silver.
The foregoing discussion of the Arrangement and the
Post-Closing Steps is intended to provide a general summary only. Shareholders are encouraged to read the Circular in its entirety.
About the Panuco Project
The newly consolidated Panuco silver-gold project
is an emerging high-grade discovery located in southern Sinaloa, Mexico, near the city of Mazatlán. The 7,189.5-hectare, past producing
district benefits from over 86 kilometres of total vein extent, 35 kilometres of underground mines, roads, power, and permits.
The district contains intermediate to low sulfidation
epithermal silver and gold deposits related to siliceous volcanism and crustal extension in the Oligocene and Miocene. Host rocks are
mainly continental volcanic rocks correlated to the Tarahumara Formation.
On January 8, 2024, the Company announced an updated
mineral resource estimate for Panuco which includes an estimated in-situ indicated mineral resource of 155.8 Moz AgEq and an in-situ inferred
resource of 169.6 Moz AgEq.
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. To date, Vizsla Silver has completed over 350,000 metres of drilling at Panuco leading to the discovery of several new
high-grade veins. For 2024, Vizsla Silver is focused on de-risking the resource base located in the western portion of the district ahead
of a development decision. Additionally, Vizsla Silver has budgeted +35,000 metres of resource/discovery-based drilling designed to upgrade
and expand the Project's mineral resource, as well as test other high priority targets across the district.
In accordance with NI 43-101, Jesus Velador, Ph.D.
MMSA QP, Vice President of Exploration, is the Qualified Person for the Company and has validated and approved the technical and scientific
content of this news release.
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy
of this release.
NOTE REGARDING FORWARD LOOKING STATEMENTS
The information contained herein contains "forward-looking
statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information"
within the meaning of applicable Canadian securities legislation. "Forward-looking information" includes, but is not limited
to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the
future, including, without limitation, planned exploration activities. Generally, but not always, forward-looking information and statements
can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation
thereof or variations of such words and phrases or state that certain actions, events or results "may", "could", "would",
"might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof. Forward-looking
statements in this news release include, among others, statements relating to: timing, structure and completion of the Arrangement; the
terms of the Arrangement; the Post-Closing Steps; and exploration, development, and production at Panuco.
Forward-looking
statements and forward-looking information relating to any future mineral production,
liquidity, enhanced value and capital markets profile of the Company, future growth potential for the Company and its business, and future
exploration plans 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; no escalation in the severity of public health crises; costs of exploration and development;
the estimated costs of development of exploration projects; the Company's ability to operate in a safe and effective manner and its ability
to obtain financing on reasonable terms.
These statements reflect the Company'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 the Company 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; the ability of the communities in which the Company operates to manage and cope with the implications of public health crises;
the economic and financial implications of public health crises to the Company; 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; ongoing military conflicts around the world; general
economic factors; and the factors identified under the caption "Risk Factors" in the Company's management discussion and analysis
and other public disclosure documents.
Although the Company has attempted to identify important
factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by forward-looking
information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance
that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially
from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information.
The Company undertakes no obligation to update or reissue forward-looking information as a result of new information or events except
as required by applicable securities laws.
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SOURCE Vizsla Silver Corp.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/June2024/11/c9646.html
%CIK: 0001796073
For further information: And to sign-up to the mailing list, please
contact: Michael Konnert, President and Chief Executive Officer, Tel: (604) 364-2215, Email: info@vizslasilver.ca, Website: www.vizslasilvercorp.ca
CO: Vizsla Silver Corp.
CNW 07:00e 11-JUN-24
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