Finlay Minerals Announces an Application to Extend Warrants
FINLAY MINERALS ANNOUNCES AN
APPLICATION TO EXTEND WARRANTS
/NOT FOR DISTRIBUTION TO
UNITED STATES
NEWSWIRE SERVICES OR FOR
DISSEMINATION IN
THE UNITED STATES
/
VANCOUVER, BC
,
Nov. 8, 2023
/CNW/ -
Finlay Minerals Ltd.
(TSXV: FYL) ("
Finlay
" or the
"
Company
") reports that it is applying to the TSX Venture Exchange (the "Exchange") to extend the
term of 13,125,000 warrants with an exercise price of
$0.20
and expiring on
December 18, 2023
issued under its private placement completed on
December 18, 2019
(the "Warrants"). See the
Company's press release dated
December 18, 2019
(available on SEDAR+) for more information
regarding the private placement.
The Company is applying to amend the Warrants to extend the expiry date from
December 18, 2023
to
December 18
, 2024. The foregoing amendments are subject to regulatory acceptance by the
Exchange. The exercise price of
$0.20
and all other terms of the Warrants will remain unchanged for
the extended exercise period.
The Company further reports that 13,093,750 of the 13,125,000 Warrants are held by a control
person of the Company. As such, the extension of such Warrants constitutes, to that extent, a
"related party transaction" within the meaning of Exchange Policy 5.9 and Multilateral Instrument 61-
101 – Protection of Minority Shareholders ("MI 61-101"). The Company has relied on the exemptions
from the valuation and minority shareholder approval requirements of MI 61-101 (and Exchange
Policy 5.9), as the fair market value of the Warrants held by the control person does not exceed
25% of the market capitalization of the Company.
About Finlay Minerals Ltd.
Finlay is a TSXV company focused on exploration for base and precious metal deposits in northern
British Columbia
.
Finlay trades under the symbol "FYL" on the TSXV and under the symbol "FYMNF" on the OTCQB.
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
, P. Eng.
President & CEO
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the
TSXV) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Information:
This news release includes certain "forward-looking information"
and "forward-looking statements" (collectively, "
forward-looking statements
") within the meaning
of applicable Canadian securities legislation, including statements with respect to the regulatory
acceptance of the Warrant amendments by the Exchange. All statements in this news release that
address events or developments that we expect to occur in the future are forward-looking
statements. Forward-looking statements are statements that are not historical facts and are
generally, although not always, identified by words such as "expect", "plan", "anticipate", "project",
"target", "potential", "schedule", "forecast", "budget", "estimate", "intend" or "believe" and similar
expressions or their negative connotations, or that events or conditions "will", "would", "may",
"could", "should" or "might" occur. All such forward-looking statements are based on the opinions
and estimates of management as of the date such statements are made. Although Finlay believes
the expectations expressed in such forward-looking statements are based on reasonable
assumptions, such statements are not guarantees of future performance and actual results or
developments may differ materially from those forward-looking statements. Factors that could
cause actual results to differ materially from those in forward-looking statements include market
prices, exploration results, availability of capital and financing and general economic, market or
business conditions, and the other risk factors described in Finlay's filings with Canadian securities
regulators on SEDAR+ at
www.sedarplus.ca
. These forward-looking statements are based on a
number of assumptions including, among other things, the timing and receipt of regulatory and
governmental approvals, including regulatory acceptance of the Warrant amendments by the
Exchange. Investors are cautioned that any such statements are not guarantees of future
performance and actual results or developments may differ materially from those projected in the
forward-looking statements. Finlay does not assume any obligation to update or revise its forward-
looking statements, whether as a result of new information, future or otherwise, except as required
by applicable law.
SOURCE
Finlay Minerals Ltd.
View original content:
http://www.newswire.ca/en/releases/archive/November2023/08/c2038.html
%SEDAR: 00018019E
For further information:
Finlay Minerals Ltd., Robert Brown, President & CEO, Tel: 604-684-3099,
CO: Finlay Minerals Ltd.
CNW 08:00e 08-NOV-23