Vizsla Copper Corp (OTCMKTS:VCUFF) Stock Continues To Trend Lower

Last Friday Vizsla Copper Corp (OTCMKTS:VCUFF) was in focus after the company announced that it had been given the approval to issue as many as 300000 shares by the TSX Venture Exchange in relation to the Megaton Option Agreement.

Trading Data

On Friday, BVFL stock decreased 2.28% to $0.1600 with more than 101.87K shares, compared to its average volume of 31.49K shares. The stock moved within a range of $0.1600 – 0.1710 after opening trade at $0.1710.

Vizsla Copper Issues Shares For Megaton Option Agreement

The company had made an announcement with regards to the option agreement on May 9 and it was described as an arm’s length transaction. It should be noted that the shares are going to be subject to a hold period of four months and a day hold period as per the relevant securities laws in Canada.

It was also announced by Vizsla Copper that it had retained the services of Peak Investor Marketing Corp for the purpose of the marketing services that it would need for complying with the policies of the TSX Venture Exchange. However, the appointment is also going to be subject to regulatory approval.

As per the provisions of the agreement, Vizsla would pay Peak Investor Marketing C$144,000 in the first 12 month long term and once that term is completed, it would be a monthly payment of $12000. The two entities have an arm’s length relationship but Peak may have an interest in Vizsla Copper.