Reyna Silver Corp. (TSXV:RSLV)(OTCQX:RSNVF)(FRA:4ZC) ("Reyna" or the "Company") is pleased to announce a non-brokered private placement consisting of up to 40,000,000 units (the "Units") at CAD$0.075 per Unit for gross proceeds of up to CAD$3,000,000 (the "Offering"). Each Unit will be comprised of one common share of the Company (a "Common Share") and one Common Share purchase warrant of the Company (a "Warrant"). Each Warrant will entitle the holder to acquire one additional Common Share (a "Warrant Share") at an exercise price of CAD$0.12 per Warrant Share for a period of 36 months from the date of issuance.
Following our drill results at Gryphon, we are pleased to announce this financing, which will enable us to expand our proof-of-concept targets and prepare for further exploration targets later this year." said Jorge Ramiro Monroy, CEO of Reyna Silver. "Additionally, with the improved mining environment in Mexico, we look forward to resuming exploration at Batopilas, where we had several high-grade silver intercepts including drilled 9m at 616 g/t silver in 2023."
The Offering is expected to close in one or more tranches with the first closing expected to occur on or about February 14, 2025 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including fulfilling applicable requirements of the TSX Venture Exchange.
The Company may pay finders' fees and issue finder's warrants to eligible finders in accordance with applicable securities laws and the policies of the TSX Venture Exchange.
It is anticipated that insiders of the Company may participate in the Private Placement. The participation of any insiders may be considered a related party transaction within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Private Placement will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the securities issued to related parties nor the consideration for such securities will exceed 25% of the Company´s market capitalization.
The Company intends to use the proceeds from the Offering for ongoing exploration, maintenance and development of the Company's properties and general working capital and corporate purposes.
Prospectus which can be obtained under the Company's SEDAR+ profile at www.sedarplus.ca.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities referenced in this news release have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any applicable state securities laws and may not be offered or sold in the United States or to "U.S. persons" (as such term is defined in Regulation S under the U.S. Securities Act) absent such registration or an applicable exemption from such registration requirements.
Reyna Silver is a growth-oriented junior exploration and development company. Reyna Silver focuses on exploring for high-grade, district-scale silver deposits in Mexico and the United States. In Nevada USA, Reyna Silver has entered into an option to acquire 70% of the 12,058-hectare "Gryphon Summit Project". The Gryphon Project shows features indicating uniquely superimposed/overprinted Silver-Lead-Zinc-Copper Carbonate Replacement (CRD), Carlin Gold and Critical Metals mineralization. Also in Nevada, Reyna Silver is advancing its option to acquire 100% of the "Medicine Springs Project" where Reyna Silver is exploring a potentially significant Silver-Lead-Zinc-Copper CRD-skarn-Porphyry system. Reyna Silver´s Mexican assets are 100% owned and include the "Guigui Project" and "Batopilas Project", both located in Chihuahua State. The Guigui Project covers the interpreted source area for the Santa Eulalia Carbonate Replacement Deposit District and Batopilas covers most of Mexico´s historically highest-grade silver system.
Forward-Looking Information
This press release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this press release. Forward-looking information herein includes, without limitation, those related to the Offering, the use of proceeds, and, more generally, the contents of the above section entitled "About Reyna Silver Corp. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected" "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could, "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to, the cautionary statements made in the relevant sections of the Company's filings with the Canadian Securities Authorities, copies of which can be found under the Company's profile on SEDAR+. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Except as required by law, the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
Cautionary Statement
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.
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