05:53 PM EST, 11/24/2025 (MT Newswires) -- Vizsla Silver ( VZLA ) said late Monday it closed a $300 million offering of 5% convertible senior notes due 2031, including the full $50 million exercise of the initial purchasers' option.

The notes, initially convertible at $5.84 a share, generated net proceeds of about $286 million, which will be used to support development of the Panuco project, exploration, potential acquisitions, and general corporate purposes.

The company said it also entered into cash-settled capped call transactions to offset potential dilution upon conversion of the notes.

Shares of Vizsla Silver ( VZLA ) were down 1.4% in after-hours trading.