Finlay Minerals Announces Upsizing of Private Placement Financing to $2.635M
Finlay Minerals Announces Upsizing of Private
Placement Financing to $2.635M
/NOT FOR DISTRIBUTION TO
UNITED STATES
NEWSWIRE SERVICES OR FOR
DISSEMINATION IN
THE UNITED STATES
/
VANCOUVER, BC
,
June 25, 2021
/CNW/ - Finlay Minerals Ltd. (TSXV: FYL) ("
Finlay
" or the
"
Company
") is pleased to announce that, due to strong investor demand for its non-brokered private
placement previously announced on
June 17, 2021
(the "
Private Placement
"), the Company has
agreed to increase the size of the Private Placement from
$2,000,000
to up to
$2,635,000
.
Under the increased Private Placement, the Company will sell up to: (i) 18,166,666 units (each, a
"
NFT Unit
"), at a price of
$0.09
per NFT Unit, with each NFT Unit comprising one common share of
the Company and one common share purchase warrant (each, a "
Unit Warrant
"); and (ii) 8,333,333
flow-through units ("
FT Units
"), at a price of
$0.12
per FT Unit, with each FT Unit comprising one
common share of the Company which qualifies as a "flow-through share" within the meaning of the
Income Tax Act
(
Canada
) and one Unit Warrant. Each Unit Warrant shall entitle the holder thereof
to acquire one additional common share of the Company (each, a "
Warrant Share
") at an exercise
price of
$0.135
per Warrant Share for a period of twenty-four months from the issuance of each
such Unit Warrant.
For further information regarding the Private Placement, please refer to the News Release dated
June 17, 2021
, a copy of which is available on the Company's SEDAR profile at
www.sedar.com
.
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 are:
the
Silver Hope
Property, which surrounds the former Equity Silver Mine, includes the 2020
newly discovered Equity East target, 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 Mine (71 million oz. silver, 185 million lbs. copper and
508,000 oz. gold;
Reference
:
http://minfile.gov.bc.ca/Summary.aspx?minfilno=093L++001
).
the
ATTY
Property which is contiguous to the north side of the Kemess East deposit and
adjacent to the Kemess Underground deposit of Centerra Gold Inc., and
the
PIL
Property, which is adjacent to Sable Resource's Baker Mine, has eight known copper-
gold-molybdenum porphyry mineralized zones including several gold-silver epithermal structural
systems.
Qualified Person:
Robert Brown
, P.Eng. is the qualified person as defined by National Instrument 43-101 and has
approved the technical content of this news release.
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
, P.Eng.,
President, CEO and Director
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.
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. 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. Forward-looking statements in this news release include statements regarding,
among others, the anticipated size of the Private Placement. 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
successes, and continued availability of capital and financing and general economic, market or
business conditions. These forward-looking statements are based on a number of assumptions
including, among other things, assumptions regarding general business and economic conditions,
the timing and receipt of regulatory and governmental approvals, the ability of Finlay and other
parties to satisfy stock exchange and other regulatory requirements in a timely manner, the
availability of financing for Finlay's proposed transactions and programs on reasonable terms, and
the ability of third party service providers to deliver services in a timely manner. 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/June2021/25/c1457.html
%SEDAR: 00018019E
For further information:
Finlay Minerals Ltd., Ilona Lindsay, Vice President, Corporate Relations,
Tel: 604-684-3099, [email protected]
CO: Finlay Minerals Ltd.
CNW 08:00e 25-JUN-21