Source: Reyna Silver Corp.
  • Reyna Silver Corp. (RSLV) has closed the second tranche of its bought-deal private placement of units for gross proceeds of $3,011,916
  • Under this final tranche, tagged the AI Tranche, the company sold 10,039,720 units at a price of $0.30 per unit
  • The company closed the first tranche of the offering (the LIFE Tranche) on February 13, 2023 for gross proceeds of $4,999,800
  • 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 0.909 per cent, trading at $0.273 at 12:23 PM ET

Reyna Silver Corp. (RSLV) has closed the second tranche of its bought-deal private placement of units, raising gross proceeds of $3,011,916.

Under this final tranche, tagged the AI Tranche, the company sold 10,039,720 units at a price of $0.30 per unit.

Each unit issued in the AI Tranche consisted of one common share and one common share purchase warrant, with each warrant entitling the holder to purchase one additional common share at a price of $0.40 per common share at any time on or before February 23, 2026.

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

“We thank our long-term investors as well as the new institutional and high-profile investors whose enthusiasm and support made the $8 million over-subscribed bought-deal financing with Eight Capital and syndicates Canaccord and Echelon a success,” said Jorge Ramiro Monroy, CEO of Reyna Silver.

“The proceeds of the raise enable Reyna Silver to move all three of our district-scale projects forward,” he added.

The 10,039,720 units sold under the AI Tranche were offered for sale to purchasers and are subject to a statutory hold period of four months and one day.

The company closed the first tranche of the offering (the LIFE Tranche) on February 13, 2023, for gross proceeds of $4,999,800. Under the LIFE Tranche, the company sold 16,666,000 units on the same terms as the units in the AI Tranche, other than in relation to the statutory hold period.

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

Reyna Silver Corp. (RSLV) was down 0.909 per cent, trading at C$0.273 at 12:23 PM ET.


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