08:52 AM EDT, 05/28/2024 (MT Newswires) -- Vizsla Copper ( VCUFF ) , which owns the Woodjam project in British Columbia, said on Tuesday that is raising up to $3 million in a private placement to fund exploration as well as for working capital and general corporate purposes.

The offering comprises up to 9,090,909 units priced at $0.11 apiece for $1 million in proceeds, and up to 16,666,667 flow-through units at $0.12 apiece for $2 million in proceeds.

Each unit will consist of one share and one half of a warrant. Each flow-through unit will consist of one share and one half of a warrant. Each whole warrant is exercisable at $0.16 per share for 24 months.

The company's share price rose 4.6% yesterday to $0.115.