Reyna Silver Announces Upsize to $3,000,000 and First Tranche Closing
Summary
VANCOUVER, BC and HONG KONG, CHINA / ACCESSWIRE / February 26, 2024 / Reyna Silver Corp. (TSXV:RSLV)(OTCQX:RSNVF)(FRA:4ZC) ("Reyna" or the "Company") is pleased to announce that it is has increased the size of its non-brokered listed issuer financing exemption (LIFE) private placement (the "Offering") previously announced on February 14, 2024, due to investor demand. Each Warrant will entitle the holder thereof to acquire one Common Share at an exercise price of $0.20 for a period of 36 months from the date of issuance.As previously announced, the Company will also complete a concurrent non-brokered private placement of up to 4,166,667 Units for gross proceeds of up to approximately $500,000 (the "Concurrent Private Placement") to purchasers pursuant to other applicable exemptions under NI 45-106. Prospective investors should read this amended and restated offering document before making an investment decision.The closing of the Concurrent Private Placement may take place in one or more tranches as determined by the Company and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the conditional approval from the TSX Venture Exchange.The Company is also pleased to announce a first closing of the Offering of 13,934,367 Units for gross proceeds of $1,672,124.04. In Nevada USA, the Company has recently entered into an option to acquire 70% of the 10,300-hectare "Gryphon Summit Project" in a 50/50 partnership with Reyna Gold Corp. (TSXV:REYG). The Gryphon Project shows features indicating uniquely superimposed/overprinted Silver-Lead-Zinc-Copper Carbonate Replacement (CRD), Carlin Gold and Critical Metals mineralization.