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Reyna Silver Corrects Disclosure Regarding Compensation Securities Issued in Connection with Private Placement


VANCOUVER, BC and HONG KONG, CHINA / ACCESSWIRE / February 25, 2023 / Reyna Silver Corp. (TSXV:RSLV)(OTCQB:RSNVF)(FRA:4ZC) ("Reyna" or the "Company") is issuing a correction to its previously disseminated press release dated February 23, 2023 (the "Closing Press Release"). The Closing Press Release announced the closing of the second tranche of a previously announced "bought deal" private placement (the "Offering") of units for gross proceeds of C$3,011,916 (the "AI Tranche"). Under the AI Tranche, the Company sold 10,039,720 units of the Company (the "Units") at a price of C$0.30 per Unit. The Offering was completed pursuant to an underwriting agreement dated February 13, 2023, as amended by an amending agreement dated February 21, 2023 (the "Underwriting Agreement") with Eight Capital, as lead underwriter and bookrunner, and a syndicate of underwriters (collectively, the "Underwriters").

The Closing Press Release incorrectly omitted the compensation warrant ("Compensation Warrant") portion of the compensation paid to the arm's length finders (the "Finders"). In consideration for the services of the Finders in connection with certain Units sold on a president's list, the Finders were paid cash finder's fees totaling $51,743.62. In addition, the Finders were issued 169,563 Compensation Warrants. Each Compensation Warrant is exercisable into one Unit at a price of $0.30 per Unit for a period of 24 months after the date of issuance.

The Closing Press Release also incorrectly disclosed that the Compensation Warrants issued to the Underwriters are exercisable for a period of 36 months from the date of issue. The Compensation Warrants issued to the Underwriters are in fact exercisable for a period of 24 months from the date of issue.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States or any other jurisdiction. No securities may be offered or sold in the United States or in any other jurisdiction in which such offer or sale would be unlawful absent registration under the U.S. Securities Act of 1933, as amended, or an exemption therefrom or qualification under the securities laws of such other jurisdiction or an exemption therefrom.

On Behalf of the Board of Directors of Reyna Silver Corp.

Jorge Ramiro Monroy
Chief Executive Officer

For Further Information, Please Contact:

Jorge Ramiro Monroy, Chief Executive Officer

About Reyna Silver Corp.

Reyna Silver Corp. (TSXV:RSLV) is a growth-oriented junior exploration and development company focused on exploring for high-grade, district-scale silver deposits in Mexico and USA.

Reyna's principal properties are the Guigui and Batopilas Properties in Chihuahua, Mexico. Guigui covers the interpreted source area for the Santa Eulalia District and Batopilas covers most of Mexico's historically highest-grade silver system. The Company also has an option to acquire 100% of the Medicine Springs property in Nevada, USA as well as the early stage La Durazno and Matilde and La Reyna mineral properties in Mexico.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Reyna Silver Corp.

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