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Finlay Minerals announces $500,000 Private Placement Financing
Finlay Minerals announces $500,000 Private Placement Financing Canada NewsWire ...
About this update from Finlay Minerals Ltd.
[{"type":"text","content":"\n \n \n \n Finlay Minerals announces $500,000 Private Placement Financing\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n /NOT FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n May 8, 2023\n \n \n /CNW/ -\n \n Finlay Minerals Ltd.\n \n (TSXV: FYL) (OTCQB: FYMNF) (\"\n \n Finlay\n \n \" or the \"\n \n Company\n \n \") is pleased to announce that it plans to complete a non-brokered private placement financing to raise aggregate gross proceeds of up to\n \n $500,000\n \n (the \"\n \n Private Placement\n \n \").\n \n \n The Private Placement will consist of the issuance of: (i) up to 3,333,333 flow-through units (\"\n \n FT Units\n \n \") at a price of\n \n $0.06\n \n per FT Unit (the \"\n \n FT Unit Price\n \n \"), with each FT Unit comprising one common share of the Company which qualifies as a \"flow-through share\" within the meaning of the\n \n Income Tax Act\n \n (\n \n Canada\n \n ) and one-half of a non-flow-through warrant (each whole warrant a \"Unit Warrant\"), and (ii) up to 6,000,000 non-flow through units (\"\n \n NFT Units\n \n \") at a price of\n \n $0.05\n \n per NFT Unit (the \"\n \n NFT Unit Price\n \n \"), with each NFT Unit comprising one non-flow-through common share of the Company and one-half of a Unit Warrant.\n \n \n Each whole Unit Warrant will entitle the holder thereof to acquire one additional non-flow-through common share of the Company (a \"\n \n Warrant Share\n \n \") at an exercise price of\n \n $0.10\n \n per Warrant Share for a period of twenty-four months from the closing of the Private Placement.  The Private Placement is expected to close on or about\n \n May 26, 2023\n \n .\n \n \n The Company also advises that a director of the Company has agreed to subscribe for and purchase from the Company all of the FT and NFT Units under the Private Placement that are not acquired by other investors.  The Private Placement issuance to this d...