Finlay Minerals Ltd. Announces the Closing of a Non-Brokered $200,000 Financing
Vancouver, BC – August 2, 2017 – Finlay Minerals Ltd. (TSXV: FYL) (the “Company”) is pleased to announce the closing of a non-brokered private placement financing today. A total of 3,333,333 units at $0.06 per unit were issued for gross proceeds of $200,000. Each unit consists of one common share and one-half of one share purchase warrant. Each whole warrant is exercisable for the purchase of an additional common share for a term of 24 months at an exercise price of $0.10 per common share. The warrant term will be accelerated upon written notice from the Company, in the event that the common shares of the Company close at a price of not less than $0.30 per share for at least 20 consecutive trading days. Upon such notice being provided, the holders of the warrants will have 30 days to exercise the warrants, failing which they will expire and be of no further force or effect.
The funds will be used to continue work on the PIL Property’s newly discovered copper-silver alkali porphyry system and for working capital.
No finder’s fees or commissions were paid in regards to this private placement financing.
The private placement shares, the warrants and any common shares acquired upon exercise of the warrants will be subject to a four-month hold period expiring December 3, 2017.
About Finlay Minerals Ltd.
Finlay is a TSX Venture Exchange company focused on exploration for base and precious metal deposits in northern British Columbia. The Company’s properties include:
the Silver Hope which includes porphyry copper-molybdenum mineralization discovered in 2010, along with three silver-copper mineralized zones, in a contiguous trend with the mined-out deposits of the former Equity Silver Mines (71 million oz. silver, 185 million lbs. copper and 508,000 oz. gold),
the ATTY which is contiguous to the north side of the Kemess East deposit of AuRico Metals Inc., and
the PIL Property.
Finlay Minerals Ltd. trades under the symbol “FYL” on the TSX Venture Exchange. For further information and details please visit the Company’s website at www.finlayminerals.com
On behalf of the Board of Directors,
Robert F. Brown,
President & CEO
For further information, contact:
Finlay Minerals Ltd.
John Barakso, Chairman of the Board
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.