RSLV Reyna Silver Corp

Reyna Silver Corp. (“Reyna” or the “Company”) (TSXV: RSLV) is pleased to announce that, further to its news releases of July 27, 2020 and July 29, 2020, it has completed a brokered private placement of 11,300,000 units (each, a “Unit”) at a price of $0.62 per Unit for gross proceeds of $7,006,000 (the “Offering”).  Each Unit is comprised of one common share of the Company (a “Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”).  Each Warrant will entitle the holder thereof to acquire one common share of the Company at a price of $0.90 until August 19, 2022.

The Offering was led by Eight Capital, pursuant to the terms of an agency agreement entered into by the Company and the Agent on August 19, 2020 (the “Agency Agreement”).  Pursuant to the Agency Agreement, the Agent received aggregate cash commissions of $378,326.48 and was granted compensation warrants to acquire up to 734,204 Units at $0.62 per Unit until August 19, 2022, (such Units being on the same terms as sold to subscribers). 

The Company intends to use the net proceeds of the Offering for exploration and drilling at its Guigui and La Chinche projects in Mexico, and for general working capital purposes.

All of the securities issued under the private placement are subject to a hold period expiring on December 20, 2020.  

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

On Behalf of the Board of Directors of Reyna Silver Corp.

Jorge Ramiro Monroy

Chief Executive Officer

For further information please contact:Jorge Ramiro Monroyjorge@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.