Source: Reyna Silver Corp.
  • Reyna Silver (RSLV) has upsized its previously announced bought-deal private placement of units to $5.5 million
  • The company has now signed an amended agreement to increase the size of the private placement to 18.33 million units with a price of $0.30 per unit
  • Also, the company granted the underwriters an option to sell an additional five million units
  • Reyna Silver intends to use the proceeds for ongoing exploration and drilling at several projects, as well as general corporate purposes
  • Reyna is an exploration and development company focused on high-grade, district-scale silver deposits in Mexico and the U.S.
  • Reyna Silver (RSLV) closed down by 18.42 per cent trading at $0.31 per share

Reyna Silver (RSLV) has upsized its previously announced bought-deal private placement of units to $5.5 million.

The company has now signed an amended agreement with Eight Capital, working on behalf of a syndicate of underwriters, to increase the size of the private placement to 18.33 million units at a price of $0.30 per unit.

Each unit will be made up of one Reyna Silver common share and one common share purchase warrant.

A single warrant will allow the holder to purchase one additional common share for $0.40 for a three-year period following the closing date of the upsized offering.

Additionally, the company has granted the underwriters an option to sell an additional five million units exercisable in full or in part for up to 48 hours before the closing date. This would account for an extra $1.5 million in financing.

Reyna Silver intends to use the net proceeds of the upsized offering for ongoing exploration and drilling at the Medicine Springs, Guigui, and Batopilas projects, as well as for general corporate purposes.

The closing date of the Listed Issuer Financing Exemption portion of the upsized offering is expected to happen by February 10, and the additional units portion by February 23.

Reyna is an exploration and development company focused on high-grade, district-scale silver deposits in Mexico and the U.S.

Reyna Silver (RSLV) closed down by 18.42 per cent trading at $0.31 per share.


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