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Reyna Silver Corp. is a growth-oriented junior exploration and development company focusing on high-grade, district-scale silver deposits in Mexico and the United States. With projects like Gryphon Summit, Guigui, Batopilas, and Medicine Springs, Reyna Silver aims to explore and develop valuable mineral resources. The company has recently completed an upsized non-brokered listed issuer financing exemption private placement, showing strong investor interest in its operations and projects.
Reyna Silver has successfully completed the acquisition of Reyna Gold through a statutory plan of arrangement. Under the transaction, Reyna Gold shareholders received one Reyna Silver share for every three Reyna Gold shares held. Former Reyna Gold shareholders now hold approximately 10% of Reyna Silver's outstanding shares, while existing Reyna Silver shareholders maintain 90%. Additionally, the companies amended their Gryphon Summit Option Agreement, with Reyna Silver assuming all rights and obligations to earn up to 70% equity interest in the project. The agreement defers certain cash payments due October 31, 2024, to January 31, 2025, in exchange for a $10,000 payment and 100,000 additional RSLV shares.
Reyna Gold Corp. and Reyna Silver Corp. have announced that Reyna Gold shareholders approved the acquisition of Reyna Gold by Reyna Silver at a special meeting on October 8, 2024. The Supreme Court of British Columbia also approved the transaction on October 10, 2024. Under the terms, each Reyna Gold shareholder will receive one Reyna Silver common share for every three Reyna Gold shares held.
The special resolution was approved by a significant majority, with 13,421,540 Reyna Gold shares represented at the meeting. The transaction is expected to close around October 17, 2024, subject to TSXV approval. Following completion, Reyna Gold will be wholly-owned by Reyna Silver, and Reyna Gold's shares are expected to be delisted from the TSXV.
Additionally, Reyna Gold agreed to a debt conversion with certain directors, issuing 838,750 Reyna Gold shares at $0.05 per share to cancel $41,937.50 of outstanding fees.
Reyna Silver Corp. (TSXV:RSLV)(OTCQX:RSNVF)(FRA:4ZC) has amended the terms of its option agreement for the Medicine Springs project in Nevada, USA. The amendment, dated September 30, 2024, modifies the payment schedule with the Optionors, Stephen Sutherland and Herb Duerr. Key changes include:
1. A USD$15,000 cash payment on October 1, 2024
2. Deferral of a USD$150,000 cash payment from October 1, 2024, to February 1, 2025
3. Addition of USD$10,000 in Reyna Silver common shares, payable by February 1, 2025
The revised schedule now requires mandatory payments of USD$150,000 in cash and USD$310,000 in common shares by February 1, 2025. Optional payments include USD$225,000 in cash by February 1, 2025, and USD$150,000 in cash by October 1, 2025. These amendments are subject to TSXV acceptance.
Reyna Silver (TSXV:RSLV, OTCQX:RSNVF) and Reyna Gold (TSXV:REYG, OTCQB:REYGF) have initiated drilling at the Gryphon Summit Project in Nevada, USA. This marks the first-ever Carbonate Replacement Deposit (CRD) targeting at the site, with a planned 3,000-meter program. The companies are earning a 70% interest in the 12,058-hectare Gold, Silver, and Critical Metals project.
Key target areas include:
- Union: Recently acquired patented claims allowing drilling of deeper sulfides
- 007 Zone: Reinterpretation of structures with 20-25 g/t Gold
- Sadler: High-grade Copper (1-11.6% Cu) and Silver (120-1322 g/t Ag) in breccias and veins
The drilling program aims to identify oxidation levels, major potentially mineralized structures, and fundamental ore-system exploration vectors.
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.
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