Reyna Gold Secures Shareholder and Court Approval for Acquisition by Reyna Silver

Reyna Gold Corp. and Reyna Silver Corp. have announced significant advancements in their acquisition process. Reyna Gold shareholders approved the acquisition by Reyna Silver during a special meeting on October 8, 2024. The British Columbia Supreme Court subsequently deemed the transaction fair and reasonable. Under the agreement, Reyna Gold shareholders will receive one share of Reyna Silver for every three Reyna Gold shares held.

The transaction is awaiting customary approvals, including TSXV's nod, with completion expected around October 17, 2024. Post-transaction, Reyna Gold will become wholly owned by Reyna Silver, leading to delisting from TSXV.

A debt conversion agreement was also reached, allowing issuance of new shares to certain directors in exchange for debt cancellation, subject to regulatory approvals.