Reyna Silver Corp. announced a non-brokered private placement of up to 4,166,667 units at a price of CAD 0.12 per unit for gross proceeds of up to CAD 500,000.04 on February 14, 2024. The closing of the private placement may take place in one or more tranches as determined by the company and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the conditional approval from the TSX Venture Exchange.

All securities issued in connection with the concurrent private placement will be subject to a statutory hold period of four months and one day following the date of issuance in accordance with applicable Canadian securities laws. The company may pay certain eligible finders a cash fee of up to 7% of the gross proceeds raised in respect of the private placement from subscribers introduced by such finders to the company. The company may also issue to eligible finders such number of finders warrants equal to 7% of the number of units sold under the concurrent private placement to subscribers introduced by such finders to the company.

The finder warrants, to the extent they are issued, shall entitle the holder thereof to acquire one common share at a price of CAD 0.12 per common share for a period of 36 months from the date of issuance.