Vizsla Silver Mobilizes US$250 Million Via 2031 Convertible Notes to Fuel Exploration Push

Vizsla Silver Corp. (VZLA, VZLA.TO) has unveiled plans to raise US$250 million through the issuance of convertible senior unsecured notes maturing January 15, 2031. The offering grants initial purchasers a 13-day option to acquire an additional US$50 million in notes, potentially bringing total capital raise to US$300 million.

Capital Deployment Strategy

The silver-focused explorer intends to channel the net proceeds primarily toward advancing the Panuco Project—the cornerstone of its portfolio. Beyond project development and exploration activities, the company retains flexibility to pursue strategic acquisitions and cover general corporate expenses. This phased approach aligns with the company’s growth trajectory through the 2031 calendar year.

Hedging Framework

Vizsla Silver plans to deploy a portion of the raised capital for capped call transactions, a protective mechanism that allows the company to limit potential dilution from note conversions. Should initial purchasers exercise their overallotment option, the company will execute additional capped call agreements with counterparties, demonstrating a disciplined approach to managing conversion risk.

Market Context

The January 15, 2031 maturity date provides investors with a defined timeline, while the convertible structure offers equity upside potential. The company’s ability to secure this funding underscores investor confidence in the Panuco Project’s development prospects and management’s strategic vision for shareholder value creation.