Reyna Gold Announces Definitive Agreement to Merge with Reyna Silver

Reyna Gold Corp. and Reyna Silver Corp. have entered into an arrangement agreement dated August 7, 2024. Reyna Silver will acquire all outstanding common shares of Reyna Gold by way of a statutory plan of arrangement. This transaction, which offers Reyna Gold shareholders a 48% premium based on the 20-day VWAP, aims to create a larger, more liquid entity with increased access to capital for exploration projects.

The combined entity will benefit from consolidated exploration efforts, particularly concerning the Gryphon Summit Project. Cost efficiencies are expected through the elimination of duplicate administrative and regulatory expenses.

Each Reyna Gold shareholder will receive one Reyna Silver share for every three Reyna Gold shares held. Upon completion, Reyna Gold shareholders will own approximately 10% of the new entity. The transaction is subject to regulatory approvals and shareholder votes and is anticipated to close in September 2024.