Reyna Silver Corp. Expands Financing to $4.4 Million Following Investor Demand

Reyna Silver Corp., a junior exploration and development company, has announced an increase in its financing efforts due to robust investor demand. The company has upsized its non-brokered listed issuer financing exemption (LIFE) private placement, alongside its concurrent non-brokered private placement, leading to a combined offering total of approximately $4.4 million. Initially set at a lower amount, the funds raised from these offerings have now reached a significant milestone due to increased investor interest.

Each offering unit, priced at $0.12, comprises a common share and a warrant, allowing the holder to purchase an additional share at $0.20 within 36 months. The second closing of the LIFE offering was completed successfully alongside the first closing of the concurrent offering. This strategic financial move is anticipated to bolster Reyna Silver's project exploration activities, including at their Gryphon Summit and Guigui Projects, among others.

Reyna Silver Corp. has also conducted transactions with certain insiders within the concurrent private placement, which have been exempt from formal valuation and minority shareholder approval requirements. With the final closing anticipated for March 11, 2024, these efforts underline Reyna Silver's growth strategy and commitment to advancing its high-grade silver exploration projects in Mexico and the United States.