07:25 AM EDT, 09/05/2025 (MT Newswires) -- Vizsla Silver ( VZLA ) said early Friday it signed a mandate letter with Macquarie Bank as lead arranger for a senior secured project finance facility of up to US$220 million to fund development of its Panuco silver-gold project in Sinaloa, Mexico.

The facility will be syndicated, with Macquarie retaining a 70% interest and managing the remainder.

Vizsla said it may draw an initial US$25 million tranche for early development, construction preparation and working capital, subject to conditions.

"Together with the Company's current cash position, this debt facility is expected to fully fund the Panuco Project through to first silver production, and we remain firmly on schedule with this and other key de-risking milestones, positioning us to transition seamlessly into construction," said Vizsla Silver ( VZLA ) chief executive Michael Konnert.

Closing of the facility is targeted for Q1 2026, in line with the project schedule.

U.S.-listed shares of the company were last seen up 1.4% at $3.67 in pre-market trading.