Business
Reyna Silver Corrects Disclosure Regarding Compensation Securities Issued in Connection with Private Placement
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES...
About this update from Reyna Silver
[{"type":"text","content":"Reyna Silver Corrects Disclosure Regarding Compensation Securities Issued in Connection with Private PlacementNOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESVANCOUVER, 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 ...