on Reyna Gold Corp (isin : CA76170R1047)
Reyna Gold and Silver Complete Merger, Amend Gryphon Summit Agreement
Reyna Gold Corp and Reyna Silver Corp have successfully executed a merger under the Business Corporations Act of British Columbia. This arrangement enables Reyna Silver to acquire all shares of Reyna Gold, transforming it into a fully owned subsidiary. The shareholders of Reyna Gold received one Reyna Silver share for every three of their shares, placing Reyna Gold's former shareholders at approximately 10% of the newly issued shares.
Additionally, the companies have modified the Gryphon Summit Option Agreement. Reyna Silver now solely retains the right to earn a 70% stake in the project, while cash payments originally due to Golden Gryphon have been deferred. This will include additional cash and share issuances to Golden Gryphon pending TSX Venture Exchange approval.
R. H.
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