on Reyna Silver Corp. (NASDAQ:RSNVF)
Reyna Silver Completes Acquisition of Reyna Gold
Reyna Silver Corp. has successfully acquired all outstanding shares of Reyna Gold Corp. through a statutory plan of arrangement. As part of this transaction, each Reyna Gold shareholder received one Reyna Silver share for every three Reyna Gold shares held. The merger will see former Reyna Gold shareholders owning approximately 10% of the new entity, while existing Reyna Silver shareholders hold 90%. As a result, Reyna Gold is now a wholly-owned subsidiary of Reyna Silver.
The companies also announced amendments to the Gryphon Summit Option Agreement, allowing Reyna Silver to assume all rights and obligations of Reyna Gold. Furthermore, certain cash payments to Golden Gryphon have been deferred. The amalgamation has led to the resignation of all Reyna Gold directors, replaced by new appointees. Additionally, an early warning report will be filed by Reyna Silver in compliance with regulatory requirements.
R. H.
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