Finlay Minerals Ltd. Announces the Grant of Stock Options
Finlay Minerals Ltd. Announces the Grant of
Stock Options
VANCOUVER
,
July 16, 2019
/CNW/ -
Finlay Minerals Ltd. (TSXV:FYL)
(the "
Company
")
announces that, pursuant to the Company's 10% Rolling Stock Option Plan (the "
Plan
"), as most
recently re-approved by its shareholders on
July 5, 2019
and accepted for filing by the TSX Venture
Exchange on
July 11, 2019
, the Company has granted stock options exercisable for the issuance of
up to 400,000 common shares of the Company (the "
Stock Options
") on
July 16, 2019
. The Stock
Options are exercisable at a price of
$0.05
per share for a period of five years, expiring on
July 16
,
2024. The Stock Options are subject to the terms of the Plan.
The Stock Options were granted to two of the seven directors of the Company as elected at the
Company's Annual General Meeting on
July 5
, 2019. The Company does not compensate directors
other than by incentive stock options.
The above-noted stock option grant brings the total number of the Company's issued and
outstanding stock options to 3,900,000.
The Stock Options vest as of the date of the grant. The Stock Options and any common shares of
the Company issued upon exercise of the Stock Options will be subject to a four-month resale
restriction from the date of grant of the Stock Options.
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 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 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 Silver Hope Property
surrounds the former Equity Silver Mine;
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 which is currently under
option to Serengeti Resources Inc. (
Reference:
Finlay NR 01-18 dated
March 5, 2018
), and
the
PIL
Property, which is adjacent to Sable Resource's Baker Mine, has nine known
mineralized zones including the recently discovered and expanded Pillar East gold-silver
structural system. The Company is focused on the discovery of copper-gold-molybdenum
porphyry systems on the PIL Property.
Qualified Person:
Warner Gruenwald
, P. Geo. and Vice President, Exploration for Finlay Minerals and a qualified
person as defined by National Instrument 43-101, 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,
Richard T. Dauphinee
,
Director & CFO
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.
SOURCE
Finlay Minerals Ltd.
View original content:
http://www.newswire.ca/en/releases/archive/July2019/16/c6507.html
%SEDAR: 00018019E
For further information:
Finlay Minerals Ltd., John Barakso, Chairman of the Board, Tel: 604-684-
3099, [email protected]
CO: Finlay Minerals Ltd.
CNW 08:30e 16-JUL-19