10:25 AM EDT, 09/25/2024 (MT Newswires) -- Vizsla Silver ( VZLA ) , which raised $65 million in its bought deal financing that closed last week, on Wednesday said that the underwriters have exercised the over-allotment option in full, and purchased 3.75 million shares at the offering price of $2.60 each for additional proceeds of $9.75 million.

Proceeds will be used to develop the Panuco Project in Sinaloa, Mexico. To date, the company has completed over 380,000 metres of drilling at Panuco, discovering several new high-grade veins. For 2024, Vizsla Silver ( VZLA ) aims to complete 45,000 metres of drilling so as to upgrade and expand the mineral resource, and test other high priority targets across the district.

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