Finlay Minerals Ltd. press release
Finlay Minerals Ltd. - $1,200,000 Private Placement Initiated
TSXV - TSX Venture Exchange · Copper · Gold · Silver · Molybdenum · Zinc · Canada
VANCOUVER, March 26 /CNW/ - The Board of Directors of Finlay Minerals Ltd. ("The Company") is pleased to announce a flow-through private placement of 4,347,826 flow-through units at $0.23 per unit with the MineralFields Group. Each flow-through unit consists of 1 flow-through common share, and one non-flow-through share purchase warrant (with a term of 24 months, and an exercise price of $0.35 in year 1 and $0.40 in year 2) for total gross proceeds of up to $1,000,000. Limited Market Dealer Inc. will be paid a finder's fee in the amount of 4% in the form of shares and non-flow-through finder's fee warrants equal to 8% of the number of units subscribed for, at an exercise price of $0.20 per unit, with each unit consisting of a non-flow-through common share and a warrant on the same terms as the unit warrant.
The Company also announces a non-flow through private placement of 1,000,000 shares at $0.20 per share for total gross proceeds of $200,000.
Funds will be used for exploration programs on the Silver Hope and Pil North properties, B.C.
Finlay Minerals Ltd. trades under the symbol "FYL" on the TSX Venture Exchange. Warner Gruenwald, a Qualified Person as defined by National Instrument 43-101, is supervising the exploration program.
For further information and details please visit the Company website at www.finlayminerals.com
On behalf of the Board of Directors,
John Barakso, Director
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or the accuracy of this release.