Reyna Silver Announces Second Tranche Closing and Upsize to Previously Announced Listed Issuer Financing Exemption (LIFE) Private Placement Of Units

VANCOUVER, BC and HONG KONG / ACCESSWIRE / May 9, 2024 / Reyna Silver Corp. (TSXV:RSLV)(OTCQX:RSNVF)(FRA:4ZC) ("Reyna" or the "Company") is pleased to announce that, due to investor demand, it has upsized its previously announced non-brokered listed issuer financing exemption (LIFE) private placement. The upsized offering is for up to 11,066,250 units of the Company ("Units") at a price of $0.16 per Unit (the "Issue Price") for gross proceeds of up to $1,770,600 (the "Offering"), increased from the previously announced 10,625,000 Units for gross proceeds of up to $1,700,000. Each Unit will consist of one common share of the Company (a "Common Share") and one common share purchase warrant (each, a "Warrant"). Each Warrant will entitle the holder thereof to acquire one Common Share at an exercise price of $0.24 for a period of 24 months from the date of issuance.

The Company is also pleased to announce a final closing of the Offering today, on May 9, 2024, of 1,987,500 Units for gross proceeds of $318,000. The Company will pay a cash finder's fee equal to 7.0% of the gross proceeds raised on certain investments in the first closing for an aggregate fee of $21,700 and will issue 135,625 Finder Warrants (as defined below) to eligible finders.

Closing of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including acceptance by the TSX Venture Exchange.

Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 - Prospectus Exemptions ("NI 45-106"), the Offering is being made pursuant to the listed issuer financing exemption under Part 5A of NI 45-106 (the "Exemption"). The securities offered under the Exemption will not be subject to a hold period in accordance with applicable Canadian securities laws. There is a second amended and restated offering document relating to the upsized Offering that can be accessed under the Company's profile at www.sedarplus.ca and on the Company's website at www.reynasilver.com. Prospective investors should read this offering document before making an investment decision.

In the aggregate, including the previous closing of the Offering announced on May 3, 2024, the Company issued 11,066,250 Units in the Offering for gross proceeds of $1,770,600.

The Company will pay certain eligible finders, including Red Cloud Securities, Haywood Securities, Canaccord Genuity, Ventum Financial, Research Capital and IA Capital Markets, a cash fee of up to 7% of the gross proceeds raised in respect of the Offering from subscribers introduced by such finders to the Company. The Company will also issue to eligible finders such number of finder warrants (each, a "Finder Warrant") equal to 7% of the number of Units sold under the Offering to subscribers introduced by such finders to the Company. The Finder Warrants shall entitle the holder thereof to acquire one Common Share at a price of $0.16 per Common Share for a period of 24 months from the date of issuance. In the aggregate, including the previous closing of the Offering announced on May 3, 2024, the Company will pay finder's fees of $117,222 and will issue 732,638 Finder Warrants. Payment of the finder's fees and issuance of the Finders Warrants is subject to acceptance by the TSX Venture Exchange.