Welcome to our dedicated page for Reyna Silver news (Ticker: RSNVF), a resource for investors and traders seeking the latest updates and insights on Reyna Silver stock.
Reyna Silver Corp. disclosed corporate-status, governance and capital-structure developments tied to its public-company history and completed acquisition by Torex Gold Resources Inc. News releases cover the court-approved plan of arrangement under which Torex acquired all issued and outstanding Reyna Silver common shares, related securityholder voting materials and the treatment of options, restricted share units and warrants.
Company updates also address private-placement financing, payments connected with Nevada option agreements and board changes, providing a record of the issuer’s transition from a publicly traded company into an acquired company.
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.
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