On February 23, 2023, Reyna Silver Corp. closed the transaction. The company has issued 26,705,720 units for gross proceeds of CAD 8,011,716 in the transaction including fully exercised underwriters option of5,000,000 units at the issue price, for additional gross proceeds of up to CAD 1,500,000. The company has issued 10,039,720 units in its second and final tranche for gross proceeds of CAD 3,011,916. The Company also paid cash finder?s fees totaling CAD 527,832.52 to certain arm?s length finders.

On March 2, 2023, the company announced that The TSX Venture Exchange has accepted the filing documentation with respect to the transaction. The transaction included participation from 89 placees.