Canada's Vizsla Silver falls after discounted bought-deal financing

Vizsla Silver

16/09/2024 18:57

** Shares of Canadian miner Vizsla Silver  VZLA.V  fall ~13%
to $2.56
    ** VZLA says underwriters to purchase 25 mln common shares
on a bought-deal basis at $2.60/shr for gross proceeds of ~$65
mln
    ** Offering price represents a discount of 11.5% to stock's
closing price on Friday
    ** VZLA intends to use net proceeds of the offering to
advance exploration, drilling and development at its Panuco
Project and for working capital and general corporate purposes
    ** Canaccord Genuity to act as sole bookrunner
    ** Including sessions' moves, stock up 52.1% YTD

 (Reporting by Vallari Srivastava in Bengaluru)
 ((Srivastava.Vallari@thomsonreuters.com;))