Business
Reyna Silver Announces Acquisition by Torex Gold and Concurrent Financing
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES VANCOU...
About this update from Reyna Silver
[{"type":"text","content":"Reyna Silver Announces Acquisition by Torex Gold and Concurrent FinancingNOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES VANCOUVER, BC AND HONG KONG, CHINA / ACCESS Newswire / June 23, 2025 / Reyna Silver Corp. (\"Reyna Silver\" or the \"Company\")(TSXV:RSLV)(OTCQ:RSNVF)(FRA:4ZC) is pleased to announce that it has entered into a definitive agreement (the \"Arrangement Agreement\") with Torex Gold Resources Inc. (\"Torex\") (TSX: TXG) dated June 22, 2025, pursuant to which Torex has agreed to acquire all of the issued and outstanding common shares (\"Shares\") of Reyna Silver (other than Shares held by Torex) by way of a court-approved plan of arrangement (the \"Transaction\") for cash consideration of CDN$0.13 per Share (the \"Consideration\").\"We are thrilled to announce that Reyna has entered a Definitive Agreement with Torex. In 2020, recognizing the need for producers to replenish their ounces, we set out to create a company with the premise of looking for projects with high-grade and district scale potential. We put together an outstanding portfolio of four projects in Mexico and Nevada. Taking each project from initial concept to proof of concept, the Reyna Board recognizes that in the current financing environment, the Torex offer allows these projects to remain as a portfolio and to have the necessary capital and expertise to move them to the next stage,\" said Jorge Ramiro Monroy, CEO of Reyna Silver.Transaction SummaryThe Transaction will be completed pursuant to a court-approved plan of arrangement under the Business Corporations Act (British Columbia), requiring the approval of at least: (i) 66⅔% of the votes cast by shareholders of Reyna Silver; (ii) 66⅔% of the votes cast by shareholders of Reyna Silver and the holders of warrants, options and restricted share units (\"RSUs\") voting together as a single class; and (iii) a simple majority of the votes cast by Reyna Silver shareholders excluding for this purpose the votes cast by those persons whose votes are required to be excluded in accordance with Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions, at a special meeting of Reyna Silver securityholders that will be called to consider the Transaction.Pursuant to the Transaction, each option of the Company outstanding ...