Vizsla Royalties Corp.

Vizsla Royalties Corp. is a junior silver royalty and streaming company headquartered in Vancouver, Canada, operating primarily in Mexico. Key assets include Panuco. Vizsla Royalties is an investment company that creates and acquires precious metal purchase agreements and various royalty interests. The business model is centered on non-operating interests in mining projects, providing the holder with rights to a percentage of revenue from metals produced. As a royalty holder, the organization has limited or no direct control over the operations of the properties underlying its interests and is dependent on the public disclosures and performance of third-party operators. This structure exposes the company to risks associated with operator decisions, including production levels, exploration efforts, and potential suspensions of activity. The company's revenue is significantly affected by commodity price fluctuations. Its competitive position relies on the experience of its management and advisors in mining analysis, investment structuring, and their specific expertise within the royalty and streaming sector. The company competes with other royalty firms and financing providers for a limited pool of opportunities.

The business strategy encompasses creating and acquiring precious metal royalty or streaming opportunities, with a primary focus on small to mid-tier producing or development-stage mining companies capable of generating immediate or near-term revenue. In limited circumstances, investments may be made in new grassroots royalties. A key component of the growth strategy is a royalty right agreement established on May 8, 2024, which provides the company with the right to be offered a net smelter returns royalty on any mineral property acquired by Vizsla Silver within a specified boundary around a key project. This right is valid for a 24-month period. The organization continuously reviews opportunities to create new royalty and streaming arrangements by financing mining projects or acquisitions. The company may also pursue acquisitions of other entities that hold royalty or stream portfolios. Future growth may be funded through the issuance of additional equity capital.

Executive leadership includes Michael Pettingell as Chief Executive Officer, who previously worked in equity research at Canaccord Genuity Corp. and serves as an SVP at Vizsla Silver. The Executive Chairman, Michael Konnert, is the founder and CEO of Vizsla Silver and a co-founder of Inventa Capital. The board of directors is composed of 4 members. The Audit Committee consists of 3 directors, all of whom are considered independent. The committee's mandate includes oversight of financial reporting, internal controls, and the external auditor. The governance framework addresses potential conflicts of interest by requiring any director with a conflict to declare it and abstain from voting on the matter. In certain situations, a special committee of independent directors may be formed to review transactions involving potential conflicts. The management team and its advisors possess specialized skills in identifying and evaluating investment opportunities, conducting due diligence, and structuring transactions.

The company was incorporated on October 13, 2023, and was established through a spin-out transaction from Vizsla Silver, completed on June 24, 2024. This transaction distributed common shares and warrants of the company to Vizsla Silver's shareholders. As of the date of the filing, Vizsla Silver is a major shareholder, holding approximately 30.54% of the outstanding common shares. The company's sole subsidiary is Panuco Royalty Corp., which was transferred to the company by Vizsla Silver following its incorporation. Panuco Royalty Corp. holds the primary royalty interests of the organization. These interests were granted by Minera Canam S.A. de C.V., a subsidiary of Vizsla Silver, through agreements dated in 2022 and 2023. The company's common shares began trading on the TSX Venture Exchange on August 26, 2024, and on the OTCQB marketplace on April 22, 2025.