Reyna Silver Stock Price, News & Analysis

Reyna Silver Corp. (TSXV:RSLV, OTCQX:RSNVF) has announced a definitive agreement to acquire Reyna Gold Corp. through a statutory plan of arrangement. The transaction aims to create a premier exploration company with an expanded portfolio of base and precious metals assets in the United States and Mexico. Key highlights include:

- Consolidation of the joint Gryphon Summit Project option
- Acquisition of Reyna Gold's Mexican gold properties
- Creation of a larger entity with increased access to capital
- Elimination of duplicate administrative costs
- 48% premium for Reyna Gold shareholders based on 20-day VWAP

The deal involves a 1:3 share exchange ratio, with Reyna Gold shareholders receiving one Reyna Silver share for every three Reyna Gold shares held. Upon completion, Reyna Gold shareholders will own approximately 10% of the combined entity. The transaction is expected to close in September 2024, subject to regulatory approvals and shareholder vote.

Reyna Silver Corp. (TSXV:RSLV)(OTCQX:RSNVF)(FRA:4ZC) has entered into an Option Agreement with Aulode for the Union Hill Project in Eureka County, Nevada. The company has added 10 newly staked claims (81 hectares) to its 70% optioned Gryphon Summit project, completing its control of 12,058.98 hectares of Gold, Silver, and Critical Metals potential. Drilling is set to commence, targeting major potentially mineralized structures, depth of oxidation, and critical ore-system exploration vectors.

The Agreement gives Reyna Silver the right to earn 100% ownership of the mineral rights and exploration rights, subject to cash payments totaling US$917,500 by August 2, 2030. A second option allows for 100% ownership of all remaining rights, including surface rights, upon making a production decision and additional payments. Reyna Silver will grant Aulode a 2.5% NSR royalty upon exercising the Second Option, with an option to repurchase 1.25% of it for US$2,500,000.

Reyna Silver Corp. (TSXV:RSLV)(OTCQX:RSNVF) has entered into an Option Agreement with Minquest to acquire the Mineral Hill Project in Eureka County, Nevada. This acquisition includes 8 patented claims and 20 unpatented claims within the company's larger Gryphon Project. Mineral Hill was a significant historic Ag-Pb-Zn CRD producer, with average silver grades of 140 oz/ton (3,968 g/t) in its prime during the 1870s.

The agreement allows Reyna Silver to earn 100% ownership of Mineral Hill by incurring US$1,550,000 in exploration expenditures and making US$1,810,000 in cash payments to Minquest by July 31, 2030. Upon exercising the option, Reyna Silver will grant Minquest a 2.5% NSR royalty, with an option to repurchase 1.25% for US$2,500,000.

Reyna Silver is also preparing to start its 2024 drill program at the Gryphon Project, building on historic work and new geological interpretations.

Reyna Silver has expanded its leadership team by appointing Lauren Megaw as VP of Corporate Development and Bethany Terracina as VP of Investor Relations. Previously, Megaw held the role of Head of Investor Relations while Terracina served as an Investor Relations and Communications Associate. CEO Jorge Ramiro Monroy praised both for their contributions and readiness for these senior roles.

Megaw, with a Geology degree from Stanford, joined Reyna Silver in 2021 and has been involved in multiple projects in Mexico and the USA. Terracina, with experience at Canaccord Genuity and New Pacific Metals Corp., brings a strong background in marketing and investor relations.

The company also announced the grant of 2,950,000 restricted share units (RSUs) to board members and stock options totaling 1,300,000 to the CEO, CFO, Megaw, and Terracina. This move aims to incentivize and retain key personnel. Stock options have an exercise price of $0.135 and various vesting periods.

Reyna Silver Corp. announced the upsizing of its LIFE private placement to 11,066,250 units at $0.16 per unit, raising gross proceeds of $1,770,600. The company closed the offering, issuing 1,987,500 units for $318,000. The funds will support exploration projects and general corporate purposes.

Reyna Silver Corp. has announced an upsized non-brokered listed issuer financing exemption (LIFE) private placement, offering up to 10,625,000 units at $0.16 per unit for gross proceeds of $1,700,000. The first closing raised $1,452,600. The company plans to use the proceeds for exploration projects and general corporate purposes.