Reyna Silver Announces Acquisition of Reyna Gold

Reyna Silver Corp. has announced a definitive agreement to acquire all outstanding shares of Reyna Gold Corp., forming a premier exploration company. The transaction, announced on August 7, 2024, consolidates the companies' joint option on the Gryphon Summit Project and provides Reyna Silver with access to Reyna Gold's gold properties in Mexico.

The combined entity will benefit from increased capital access and reduced administrative costs. REYG shareholders will receive one common share of Reyna Silver for every three shares held, representing a 48% premium. Upon completion, REYG shareholders will hold approximately 10% of the new entity’s shares.

The transaction, requiring approval from REYG shareholders and regulatory bodies, is expected to close by September 2024. All options of Reyna Gold will vest immediately, and accrued payments will convert to REYG shares.