Reyna Silver Corp Finalizes Upsized Offering of Units and Achieves Full Subscription

Reyna Silver Corp. (TSXV:RSLV)(OTCQX:RSNVF)(FRA:4ZC) reported the successful upsizing and final closing of its private placement, confirming strong investor interest. Originally aiming to raise $1,700,000 by offering 10,625,000 units, the company increased this to 11,066,250 units at $0.16 each, leading to a total of $1,770,600 raised. Each unit comprises one common share and a warrant, which permits the purchase of an additional share at $0.24 within 24 months.

In the final closure on May 9, 2024, 1,987,500 units brought in an additional $318,000. Reyna will compensate finders with cash fees and finder warrants, totaling $117,222 and 732,638 warrants respectively, for their role in the offering process, subject to TSX Venture Exchange approval. These conditions emphasize the structural and regulatory compliance the company adheres to.

Proceeds from this financing will support exploration activities at Reyna Silver's key projects including the Gryphon Summit Project and the Guigui Project among others, along with general corporate and working capital needs. This step marks a strategic move to expand and develop Reyna Silver’s portfolio in silver mining.