Business
$1,000,000 Private Placement with MineralFields Group Closes
$1,000,000 Private Placement with MineralFields Group Closes.
About this update from Finlay Minerals Ltd.
[{"type":"text","content":"\n\n\n\nVANCOUVER, April 12 /CNW/ - The Board of Directors of Finlay Minerals\nLtd. ("The Company") is pleased to announce the closing of a non-brokered\nprivate placement of $1,000,000 through the sale of 4,347,824 flow-through\nunits at $0.23 per unit with the MineralFields Group. Each flow-through unit\nconsists of 1 flow-through common share, and one non-flow-through share\npurchase warrant (with a term of 24 months, and an exercise price of $0.35\nuntil April 10, 2008 and $0.50 until April 10, 2009.\n\n\nLimited Market Dealer Inc. will be paid a finder's fee in the amount of\n4% in the form of 173,913 non-flow through shares and an Agent's Option\nconsisting of 347,826 Units exercisable for two years at $0.20 per Unit with\neach Unit consisting of 347,826 non flow-through shares and 347,826 warrants\nwith each warrant exercisable to acquire one non flow-through share in yr 1 at\n$0.35 and at $0.50 in year 2.\n\n\nThe Units and the finder's shares will have a hold period expiring\nAugust 12, 2007.\n\n\nWe are very pleased to be entering into this relationship with the\nMineralFields Group. This is an important milestone in the growth of the\nCompany and we look foward to working with the MineralFields Group as we\ndevelop the Silver Hope and Pil North properties, B.C.\n\n\n About MineralFields and Pathway\n\n\nMineralFields Group (a division of Pathway Asset Management) is a\nToronto-based mining fund with significant assets under administration that\noffers its tax-advantaged super flow-through limited partnerships to investors\nthroughout Canada during most of the calendar year, as well as hard-dollar\nresource limited partnerships to investors throughout the world. Pathway Asset\nManagement also specializes in the manufacturing and distribution of\nstructured products and mutual funds. Information about the MineralField Group\nis available at www.mineralfields.com\n\n\nFinlay Minerals Ltd. trades under the symbol "FYL" on the TSX Venture\nExchange. Warner Gruenwald, a Qualified Person as defined by National\nInstrument 43-101, is supervising the exploration program.\n\n\nFor further information and details please visit the Company website at\nwww.finlayminerals.com\n\n\nOn behalf of the Board of Directors,\n\n\nJohn Barakso\n\n\nJohn Barakso, Director\n\n\nThe TSX Venture Exchange has not reviewed and ...