Finlay Reports on Exercise of Warrants By its Chairman
Finlay Reports on Exercise of Warrants By its
Chairman
VANCOUVER
,
Oct. 19, 2018
/CNW/ -
Finlay Minerals Ltd. (TSXV: FYL)
(the "Company") reports
that
John Barakso
, Chairman of the Board, Director and Control Person of the Company, has
exercised 2,857,143 share purchase warrants ("Warrants") held by Baril Developments Ltd. ("Baril').
The Warrants, exercisable at
$0.05
and expiring in April, 2020, resulted in the issuance of 2,857,143
common shares to Baril for consideration paid to the Company of
$142,857.15
. Mr. Barakso will not
be selling the common shares issued pursuant to this transaction but rather will be holding them for
investment purposes.
Mr.
John Barakso
, Chairman of the Board and founder of the Company states:
"
Every time we do work on our properties, we find something or something more that makes the
Company's property assets more compelling for all of us.
"
The funds garnered from this transaction will be used by the Company to fund further exploration
work on their PIL and Silver Hope Properties.
The Company further confirms that there has been no material change in the operations of the
Company.
Additional details regarding the above transaction may be found on the SEDAR profile of Finlay
Minerals Ltd. 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 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;
Reference:
http://minfile.gov.bc.ca/Summary.aspx?minfilno=093L++001
).
The Silver Hope Property surrounds the former Equity Silver Mine;
the
ATTY
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 was recently optioned to
Serengeti Resources (Finlay NR 01-18 dated
March 5, 2018
), and
the
PIL
Property which is adjacent to Sable Resource's Baker Mine.
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
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. All such forward-looking statements are based on the opinions and estimates of
management as of the date such statements are made. Forward-looking statements in this news
release include statements regarding, among others, the exploration plans for the PIL and Silver
Hope Properties. 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/October2018/19/c4910.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 19-OCT-18