June 22, 2021 – TheNewswire – Vancouver and Hong Kong. Reyna Silver Corp. (TSXV:RSLV) (OTCQB: RSNVF) (FRA: 4ZC) (“Reyna” or the “Company”) is pleased to announce that, further to its news release of May 26, 2021, it has over-sold the offering and completed a brokered private placement of 7,298,134 units (each, a “Unit”) at a price of C$0.83 per Unit for gross proceeds of C$6,057,451.22 (the “Offering”). Each Unit is comprised of one common share of the Company (a “Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder thereof to acquire one common share of the Company at a price of C$1.25 until June 22, 2023.
The Offering was led by Eight Capital and Red Cloud Securities Inc. as co-lead agents (the “Agents”), pursuant to the terms of an agency agreement entered into by the Company and the Agents on June 22, 2021 (the “Agency Agreement”). Pursuant to the Agency Agreement, the Agents received aggregate cash commissions of C$207,481 and were granted compensation warrants to acquire up to 249,978 Units at C$0.83 per Unit until June 22, 2023, (such Units being on the same terms as sold to subscribers).
The Company intends to use the net proceeds of the Offering for exploration and drilling at its Guigui and Batopilas projects in Mexico, and for general working capital purposes.
All of the securities issued under the private placement are subject to a hold period expiring on October 23, 2021.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.
On Behalf of the Board of Directors of Reyna Silver Corp.
Jorge Ramiro Monroy
Chief Executive Officer
For Further Information, Please Contact:
Reyna Silver Corp.
Jorge Ramiro Monroy, Chief Executive Officer
About Reyna Silver Corp.
Reyna Silver Corp. is a silver exploration company with a robust portfolio of Mexican silver assets. The Company was built around the Guigui and Batopilas Projects, which formed part of MAG Silver’s original IPO portfolio. Reyna’s strategy centers around leveraging its expertise in Mexico to explore projects that have the potential for high-grade, district-scale discoveries.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.