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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.
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.
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.
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