Vancouver and Hong Kong – Reyna Silver Corp. (TSXV: RSLV; OTCQB: RSNVF; FRA: 4ZC) (“Reyna”) advises that it will be making an application to the TSX Venture Exchange for approval of the issuance of $699,333 of its common shares toward the company’s scheduled partial annual compensation to technical consultants and advisors advancing the portfolio of properties of Reyna in Mexico and the US. A calculation of a 20-day VWAP of $1.00 per share has been used which will equate to the issuance of 699,333 shares.
Payments to technical consultants and advisors are being made pursuant to agreements assumed by Reyna upon its acquisition of Reyna Silver Mining Inc. (private company) in June 2020.
Issuance of the shares is subject to the approval of the TSX Venture Exchange.
Reyna also announces it has engaged Red Cloud Financial Services Inc. of Toronto, Ontario for a 12-month initial term to provide marketing services for Reyna, in consideration of $9,500 per month, plus 130,000 options to acquire shares of Reyna at $1.00 per share for 36 months, vesting as to one-half upon issuance and the other half in six months.
On Behalf of the Board of Directors of Reyna Silver Corp.
Jorge Ramiro Monroy
Chief Executive Officer
For Further Information, Please Contact:
Jorge Ramiro Monroy, Chief Executive Officer
[email protected]
www.reynasilver.com
About Reyna Silver Corp.
Reyna Silver Corp. is a silver exploration company with a robust portfolio of Mexican silver assets. The Company was built around the Guigui and Batopilas Projects, which formed part of MAG Silver’s original IPO portfolio. Reyna’s strategy centers around leveraging its expertise in Mexico to explore projects that have the potential for high-grade, district-scale discoveries.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Original Article: https://www.thenewswire.com/press-releases/1LYzFQ0Y8-reyna-silver-provides-corporate-update.html
