OR Through U.s. Newswire Services/
Finlay Minerals Announces Closing of Non-
Brokered Private Placement of Flow-Through
and Non-Flow-Through Units
/NOT FOR DISSEMINATION IN
THE UNITED STATES
OR THROUGH U.S. NEWSWIRE
SERVICES/
VANCOUVER, BC
,
Oct. 17, 2025
/CNW/ -
Finlay Minerals Ltd.
(TSXV: FYL) (OTCQB: FYMNF)
("Finlay" or the "Company")
is pleased to announce that it has closed its non-brokered private
placement (the "
Private Placement
"), previously announced on October 6, 2025, consisting of the
issuance of: (i) 10,633,999 flow-through units of the Company (each, a "
FT Unit
") at a price of
$0.15
per FT Unit, and (ii) 883,000 non-flow-through units of the Company (each, a "
NFT Unit
") at a
price of
$0.13
per NFT Unit, for aggregate gross proceeds to the Company of
$1,709,890
.
Each FT Unit is comprised of one common share of the Company issued on a flow-through basis
under the
Income Tax Act
(
Canada
) (a "
FT Share
") and one-half of one non-flow-through common
share purchase warrant (each whole warrant, a "
Warrant
"). Each Warrant is exercisable by the
holder thereof to acquire one non-flow-through common share of the Company (a "
NFT Share
") at
an exercise price of
$0.25
per NFT Share until October 17, 2027.
Each NFT Unit is comprised of one NFT Share and one Warrant with identical terms to the Warrants
underlying the FT Units.
The Company intends to use the gross proceeds of the Private Placement for exploration of the
Company's SAY, JJB and Silver Hope properties, and for general working capital purposes, as more
particularly described in the offering document for the Private Placement. The Company will use the
gross proceeds from the issuance of FT Shares to incur "Canadian exploration expenses" and
qualify as "flow-through critical mineral mining expenditures", as such terms are defined in the
Income Tax Act
(
Canada
).
The Private Placement was conducted pursuant to the listed issuer financing exemption under Part
5A of National Instrument 45-106 –
Prospectus Exemptions
and in reliance on the Coordinated
Blanket Order 45-935 –
Exemptions from Certain Conditions of the Listed Issuer Financing
Exemption
. The securities issued to purchasers in the Private Placement are not subject to a hold
period under applicable Canadian securities laws. The Private Placement is subject to final approval
of the TSX Venture Exchange.
The Company paid aggregate cash finder's fees of
$96,550.78
and issued 648,358 non-transferable
finder warrants (each a "
Finder Warrant
") to arm's length finders of the Company, as compensation
for identifying purchasers in the Private Placement. Each Finder Warrant entitles the holder thereof
to purchase one NFT Share at an exercise price of
$0.25
per NFT Share until October 17, 2027.
The Finder Warrants and the NFT Shares issued on exercise thereof are subject to a hold period
expiring on February 18, 2026 in accordance with applicable securities laws.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall
there be any sale of the securities in
the United States
or in any other jurisdiction in which such offer,
solicitation or sale would be unlawful. The securities have not been registered under the
United
States Securities Act of 1933
, as amended, and may not be offered or sold in
the United States
absent registration or an applicable exemption from the registration requirements thereunder.
About Finlay Minerals Ltd.
Finlay is a TSXV company focused on exploration for base and precious metal deposits through the
advancement of its ATTY, PIL, JJB, SAY and Silver Hope Properties; these properties host copper-
gold porphyry and gold-silver epithermal targets within different porphyry districts of northern and
central BC. All of the properties are located in areas of recent copper-gold porphyry discoveries.
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
,
Executive Chairman of the Board
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. 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 final approval for the Private Placement
from the TSXV and the planned use of proceeds for 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 the ability
to obtain regulatory approval for the Private Placement, the state of equity markets in
Canada
and
other jurisdictions, 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,
and accordingly undue reliance should not be put on
such statements due to the inherent uncertainty therein. 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 to download multimedia:
http://www.newswire.ca/en/releases/archive/October2025/17/c8773.html
%SEDAR: 00018019E
For further information:
For further information, contact: Finlay Minerals Ltd., Ilona Barakso
Lindsay, President, CEO & Director, Tel: 604-684-3099, [email protected]
CO: Finlay Minerals Ltd.
CNW 21:29e 17-OCT-25