Torex Gold to acquire Reyna Silver for $26m, including private placement investment

From Yahoo Finance: 2025-06-24 05:10:00

Torex Gold Resources is set to acquire Reyna Silver for $26m, excluding shares held by Torex, at C$0.13 per share. The deal requires two-thirds shareholder approval and court sanction. Options and restricted share units will be canceled, with additional fees included in the agreement. Regulatory approvals are pending.

Reyna Silver will receive a $1.1m private placement investment from Torex, with proceeds earmarked for Nevada projects. Payments for Gryphon Summit and Medicine Springs have been extended to 2025. Reyna’s CEO is enthusiastic about the deal, citing the projects’ potential and the need for capital and expertise.

Legal counsel for the transaction includes DuMoulin Black and Edwards, Kenny & Bray for Reyna Silver, and Cassels Brock & Blackwell for Torex. Torex recently began commercial production at the Media Luna mine in Mexico. The acquisition aligns with Torex’s strategy to diversify as a precious metals producer in the Americas.



Read more at Yahoo Finance: Torex Gold Resources to acquire Reyna Silver for $26m