VANCOUVER, BC, Jan. 8, 2025
/CNW/ - Vizsla Copper Corp. (TSXV: VCU) (OTCQB: VCUFF)
(FRANKFURT: 97E0) ("Vizsla
Copper" or the "Company") is pleased to announce that it
has entered into a purchase agreement (the "Agreement") with
Siyata Mobile Inc. (the "Vendor"), pursuant to which the
Company has agreed to acquire (the "Acquisition") the
Vendor's 49% joint venture interest (the "JV Interest") in
five claims within the Company's Woodjam Project that were
previously known as the Rand claims (the "Claims"). Upon
closing, Vizsla Copper will own a 100% interest in the
Claims.
The Claims
The Claims are wholly within the outline of the greater Woodjam
Project and cover a total of 1,500 hectares (Figure 1). The geology
underlying the Claims consists of till covered intrusive rocks
belonging to the early Jurassic Takomkane batholith, and
volcanic rocks belonging to the late Triassic Nicola Group, both of
which are host to the copper-gold porphyry-related deposits within
the Woodjam Project. Given the prospective geology, the Claims will
continue to be a high priority for upcoming exploration programs at
the Woodjam Project.
Terms of the Agreement
Pursuant to the Agreement, Vizsla Copper has agreed to acquire
the JV Interest in exchange for $5,000 and 2,000,000 common shares of the Company
(the "Consideration Shares"). The Consideration Shares will
be subject to a four-month hold period pursuant to applicable
Canadian securities laws. The Vendor has agreed to voluntary resale
restrictions whereby 250,000 Consideration Shares will become free
trading four months after closing and an additional 250,000
Consideration Shares will become free trading every four months
thereafter. The Acquisition is subject to standard closing
conditions, including the approval of the TSX Venture Exchange.
Figure 1 – Rand Claims Location
About Vizsla Copper
Vizsla Copper is a Cu-Au-Mo focused mineral exploration and
development company headquartered in Vancouver, Canada. The Company is primarily
focused on its flagship Woodjam project, located within the
prolific Quesnel Terrane, 55 kilometers east of the community of
Williams Lake, British Columbia.
It has three additional copper properties: Poplar, Copperview, and
Redgold, all well situated amongst significant infrastructure in
British Columbia. The Company's
growth strategy is focused on the exploration and development of
its copper properties within its portfolio in addition to value
accretive acquisitions. Vizsla Copper's vision is to be a
responsible copper explorer and developer in the stable mining
jurisdiction of British Columbia,
Canada and it is committed to socially responsible
exploration and development, working safely, ethically and with
integrity.
Vizsla Copper is a spin-out of Vizsla Silver (TSX.V: VZLA)
(NYSE: VZLA) and is backed by Inventa Capital Corp., a premier
investment group founded in 2017 with the goal of discovering and
funding opportunities in the resource sector. Additional
information about the Company is available on SEDAR+
(www.sedarplus.ca) and the Company's website
(www.vizslacopper.com).
Qualified Person
The Company's disclosure of technical or scientific information
in this press release has been reviewed and approved by
Christopher Leslie, Ph.D., P.Geo.,
Technical Advisor for Vizsla Copper. Dr. Leslie is a Qualified
Person as defined under the terms of National Instrument 43-101.
Some technical information contained in this release is historical
in nature and has been compiled from public sources believed to be
accurate. The technical information has not been verified
by Viszla Copper and may in some instances be
unverifiable.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
FORWARD LOOKING STATEMENTS
The information contained herein contains "forward-looking
statements" within the meaning of the United States Private
Securities Litigation Reform Act of 1995 and "forward-looking
information" within the meaning of applicable Canadian securities
legislation. "Forward-looking information" includes, but is not
limited to, statements with respect to the activities, events or
developments that the Company expects or anticipates will or may
occur in the future, including, without limitation, planned
exploration activities. Generally, but not always, forward-looking
information and statements can be identified by the use of words
such as "plans", "expects", "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates", or "believes"
or the negative connotation thereof or variations of such words and
phrases or state that certain actions, events or results "may",
"could", "would", "might" or "will be taken", "occur" or "be
achieved" or the negative connotation thereof. Forward-looking
statements in this news release include, among others, statements
relating to: completion of the Acquisition; the exploration and
development of the Woodjam Project; and the Company's growth and
business strategies.
Such forward-looking information and statements are based on
numerous assumptions, including among others, that the results of
planned exploration activities are as anticipated, the anticipated
cost of planned exploration activities, that general business and
economic conditions will not change in a material adverse manner,
that financing will be available if and when needed and on
reasonable terms, that third party contractors, equipment and
supplies and governmental and other approvals required to conduct
the Company's planned exploration activities will be available on
reasonable terms and in a timely manner. Although the assumptions
made by the Company in providing forward-looking information or
making forward-looking statements are considered reasonable by
management at the time, there can be no assurance that such
assumptions will prove to be accurate.
Forward-looking information and statements also involve known
and unknown risks and uncertainties and other factors, which may
cause actual events or results in future periods to differ
materially from any projections of future events or results
expressed or implied by such forward-looking information or
statements, including, among others: negative operating cash flow
and dependence on third party financing, uncertainty of additional
financing, no known mineral reserves or resources, the limited
operating history of the Company, the influence of a large
shareholder, aboriginal title and consultation issues, reliance on
key management and other personnel, actual results of exploration
activities being different than anticipated, changes in exploration
programs based upon results, availability of third party
contractors, availability of equipment and supplies, failure of
equipment to operate as anticipated; accidents, effects of weather
and other natural phenomena and other risks associated with the
mineral exploration industry, environmental risks, changes in laws
and regulations, community relations and delays in obtaining
governmental or other approvals.
Although the Company has attempted to identify important factors
that could cause actual results to differ materially from those
contained in the forward-looking information or implied by
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that forward-looking information and statements
will prove to be accurate, as actual results and future events
could differ materially from those anticipated, estimated or
intended. Accordingly, readers should not place undue reliance on
forward-looking statements or information. The Company undertakes
no obligation to update or reissue forward-looking information as a
result of new information or events except as required by
applicable securities laws.
SOURCE Vizsla Copper Corp.