Reyna Silver Announces Upsize to LIFE Offering and Concurrent Private Placement and Aggregate Closings of $4.6 Million - Seite 2

The first closing of the LIFE Offering was completed on February 26, 2024. The second closing of the LIFE Offering and the first closing of the Concurrent Private Placement was completed on March 6, 2024. The Company completed a final closing of the LIFE Offering and of the Concurrent Private Placement today, on March 13, 2024, as discussed further below. The closings of the Offerings are subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including final acceptance from 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 LIFE 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 third amended and restated offering document relating to the LIFE 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 amended and restated offering document before making an investment decision. All securities issued in connection with the Concurrent Private Placement will be subject to a statutory hold period of four months and one day following the date of issuance in accordance with applicable Canadian securities laws.

The Company is also pleased to announce a third and final closing of the LIFE Offering of 3,673,358 Units for gross proceeds of approximately $440,803 and a second and final closing of the Concurrent Private Placement of 83,333 Units for gross proceeds of approximately $10,000.

The Company closed the first tranche of the LIFE Offering on February 26, 2024 of 13,934,367 Units for gross proceeds of $1,672,124.04. On March 6, 2024, the Company (i) closed the second tranche of the LIFE Offering of 8,240,666 Units for gross proceeds of approximately $988,880 and (ii) closed the first tranche of the Concurrent Private Placement of 12,401,610 Units for gross proceeds of approximately $1,488,193.

In the aggregate, including the closings announced today, the Company issued (i) 25,848,391 Units in the LIFE Offering for gross proceeds of approximately $3,101,807 and (ii) 12,484,943 Units in the Concurrent Private Placement for gross proceeds of approximately $1,498,193. Aggregating both the LIFE Offering and the Concurrent Private Placement, the Company issued 38,333,334 Units for gross proceeds of approximately $4,600,000.