Report of Acquisition of Beneficial Ownership of Common Shares of Finlay Minerals Ltd.
REPORT OF ACQUISITION OF BENEFICIAL
OWNERSHIP OF COMMON SHARES OF
FINLAY MINERALS LTD.
VANCOUVER, BC
,
Dec. 10, 2025
/CNW/ -
John Andrew Barakso
("
Barakso
") reports that he has
acquired deemed beneficial ownership of 100,000 common shares (the "
Common Shares
") of
Finlay Minerals Ltd. (the "
Company
") pursuant to a grant (the "
Option Grant
") of stock options (the
"
Options
") by the Company in connection with the Company's 10% Rolling Stock Option Plan. Each
Option is exercisable for one (1) Common Share of the Company at a price of
$0.13
per Common
Share for a term of five years.
Immediately prior to the Option Grant: (i) Barakso had beneficial ownership of 1,965,846 Common
Shares, representing approximately 1.16% of the issued and outstanding Common Shares; (ii)
assuming the exercise in full of the 900,000 stock options exercisable for Common Shares and
1,153,846 Warrants held by Barakso, Barakso would have deemed beneficial ownership of
4,019,692 Common Shares, representing approximately 2.34% of the issued and outstanding
Common Shares on a partially-diluted basis; (iii) Barakso, together with 58,630,085 Common
Shares held by deemed joint actors with Barakso, had beneficial ownership or control, directly or
indirectly, of 60,595,931 Common Shares, representing approximately 35.67% of the total issued
and outstanding Common Shares; and (iv) assuming the exercise in full of all convertible securities of
the Company held beneficially by Barakso, Barakso, together with such deemed joint actors, would
have deemed beneficial ownership or controlled, directly or indirectly, 62,649,777 Common Shares,
representing approximately 36.43% of the issued and outstanding Common Shares on a partially-
diluted basis.
Immediately following the Option Grant: (i) Barakso, in a personal capacity, together with the
Common Shares held by deemed joint actors of Barakso, had beneficial ownership or control,
directly or indirectly, of 60,595,931 Common Shares, representing approximately 35.67% of the
issued and outstanding Common Shares, a decrease of 7.58% from the previously reported
beneficial shareholding percentage in Common Shares of 43.25% due to dilution from the
Company's 2025 financings; and (ii) assuming the exercise in full of the convertible securities of the
Company held by Barakso, Barakso, together with such deemed joint actors, had deemed beneficial
ownership or controlled, directly or indirectly, 62,749,777 Common Shares, representing
approximately 36.47% of the issued and outstanding Common Shares on a partially-diluted basis, a
decrease of 7.58% of from the previously reported deemed beneficial shareholding percentage of
44.05% due to dilution from the Company's 2025 financings.
Barakso will hold the Common Shares acquired upon exercise of the options for investment
purposes. Barakso will evaluate his investments in the Company from time to time and may, based
on such evaluation, market conditions and other circumstances, increase or decrease security
holdings as circumstances require through market transactions, private agreements, or otherwise.
A copy of the related early warning report filed under applicable securities laws is available under
the Company's profile on SEDAR+ (
www.sedarplus.ca
) or from
Ilona B. Lindsay
, President & CEO
of Finlay Minerals Ltd. at (604) 684-3099.
"John A. Barakso"
JOHN ANDREW BARAKSO
JOHN ANDREW BARAKSO
3768 Sundown Drive
Nanaimo, British Columbia
V9T 4H5
Telephone: (250)756-6120
SOURCE
John A. Barakso
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http://www.newswire.ca/en/releases/archive/December2025/10/c8231.html
%SEDAR: 00018019E
CO: John A. Barakso
CNW 22:32e 10-DEC-25