Vizsla Silver (VZLA) said Monday it has launched a bought-deal offering of 33,334,000 common shares at $3 apiece for about $100 million in expected gross proceeds.
Underwriters have a 30-day overallotment option to acquire up to an additional 15% of the offering.
The company expects the offering to close by Thursday and plans to use the net proceeds to advance the exploration, drilling and development of its Panuco project, among other uses.
Vizsla shares were down 6.4% in recent premarket activity.
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