Source: Reyna Silver Corp.
  • Reyna Silver Corp. (RSLV) has closed the first tranche of its bought-deal private placement
  • Under the first tranche, tagged LIFE Tranche, the company sold 16,666,000 units at a price of C$0.30 per unit for gross proceeds of C$4,999,800
  • Reyna plans to use the net proceeds of the offering for ongoing exploration and drilling at the company’s Medicine Springs, Guigui and Batopilas projects, etc
  • Reyna Silver Corp. is a junior exploration and development company focused on exploring for high-grade, district-scale silver deposits in Mexico and USA
  • Reyna Silver Corp. was down 3.509 per cent, trading at $0.275 at 12:48 PM ET

Reyna Silver Corp. (RSLV) has closed the first tranche of its previously announced bought-deal private placement.

Under the first tranche, tagged LIFE Tranche, the company sold 16,666,000 units at a price of C$0.30 per unit for gross proceeds of C$4,999,800.

Each unit issued in the LIFE Tranche is made up of one common share and one common share purchase warrant.

Each warrant entitles the holder to purchase one additional common share at a price of $0.40 per common share at any time on or before February 13, 2026.

Each compensation warrant entitles the holder to purchase one unit of the company at a price of $0.30 per compensation unit at any time on or before February 13, 2025.

Each compensation unit consists of one common share of the company and one common share purchase warrant.

Each compensation warrant is exercisable to acquire one common share of the company for a period of 36 months following the date of issue at an exercise price of $0.40 per compensation warrant share.

Reyna plans to use the net proceeds of the offering for ongoing exploration and drilling at the company’s Medicine Springs (Arizona), Guigui and Batopilas projects (Mexico) and for general corporate purposes.

The company expects to offer, in a second tranche, additional units for sale to purchasers.

Reyna Silver Corp. is a junior exploration and development company focused on exploring for high-grade, district-scale silver deposits in Mexico and USA.

Reyna Silver Corp. was down 3.509 per cent, trading at $0.275 per share at 12:48 PM ET.


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