Reyna Silver Corp. increases funding due to investor demand

Reyna Silver Corp., a Vancouver and Hong Kong-based company, announces an increase in its non-brokered private financing, from an initial amount of $1.5 million to approximately $2.5 million, in response to a strong demand from investors. This financial operation will allow the issuance of up to 20,833,333 units of the company at a price of $0.12 per unit. Each unit will consist of one common share and one warrant, the latter of which entitles the holder to one additional common share at a price of $0.20 over a 36-month period.

At the same time, Reyna Silver will carry out a competing non-intermediated private placement, targeting up to $500,000. It is expected that company insiders will participate, which constitutes a related party transaction under applicable regulations. However, this placement will be exempt from formal evaluation and approval of minority shareholders, as its value will not exceed 25% of the company's market capitalization.

The company also announced the first closing of the offering, with the sale of 13,934,367 units, representing gross proceeds of $1,672,124.04. Subscriber search fees were paid to certain financial intermediaries in the form of cash and subscription warrants. Net funds raised will be used to fund the exploration of Reyna Silver's various projects and for general corporate purposes.