Vizsla Silver plans $250 million convertible notes offering

Vizsla Silver Corp. (NYSE: VZLA) (TSX: VZLA) announced plans to offer $250 million in convertible senior unsecured notes due 2031. The company will grant initial purchasers an option to purchase an additional $50 million in notes within 13 days of issuance.

The notes will be senior unsecured obligations that accrue interest payable semi-annually on January 15 and July 15 each year, beginning July 15, 2026. The notes will be convertible into common shares, cash, or a combination at the company's election and will mature January 15, 2031.

Vizsla Silver intends to use proceeds to support exploration and development of its Panuco Project, potential acquisitions, and general corporate purposes. A portion of proceeds will fund cash-settled capped call transactions intended to offset potential economic dilution from note conversions.

The Vancouver-based mineral exploration company expects to enter into capped call transactions with initial purchasers or their affiliates. These transactions will cover the number of shares initially underlying the notes and provide compensation for potential dilution upon conversion.

The offering requires approvals including from the Toronto Stock Exchange and NYSE American. The notes will be offered only to qualified institutional buyers under Rule 144A and will not be registered under the U.S. Securities Act of 1933.

Vizsla Silver focuses on its Panuco silver-gold project in Sinaloa, Mexico. The company pursues mine development while continuing district-scale exploration activities.

The press release contains forward-looking statements regarding the proposed offering terms, completion timing, and anticipated use of proceeds, which are subject to various risks and uncertainties.

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