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Finlay Minerals Announces the Closing of Non-Brokered Financings Totalling $1.0 Million
Finlay Minerals Announces the Closing of Non-Brokered Financings Totalling $1.0 Million ...
About this update from Finlay Minerals Ltd.
[{"type":"text","content":"\n\n\n\nFinlay Minerals Announces the Closing of Non-Brokered Financings Totalling $1.0 Million\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\nCanada NewsWire\nVANCOUVER, Dec. 18, 2019\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n VANCOUVER, Dec. 18, 2019 /CNW/ - Finlay Minerals Ltd. (TSXV: FYL) (\"Finlay\" or the \"Company\") is pleased to announce that, further to the Company's news release dated November 21, 2019, the Company has closed, subject to receipt of final approval from the TSX Venture Exchange (\"TSX-V\"), its private placement financing for total proceeds of $1,000,000 (the \"Private Placement\").\nThe Private Placement consisted of the issuance of: (i) a total of 10,000,000 units (the \"Units\"), at a price of $0.05 per Unit, with each Unit comprising one common share of the Company and one common share purchase warrant (each, a \"Unit Warrant\"); and (ii) a total of 6,250,000 units (each, a \"FT Unit\"), at a price of $0.08 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-half of one Unit Warrant.  \nEach Unit Warrant entitles the holder thereof to acquire one additional common share of the Company (each, a \"Warrant Share\") at an exercise price of $0.20 per Warrant Share for a period of four years from the closing of the Private Placement; provided that, at any time after four months and a day following closing of the Private Placement, if the closing price of the Company's common shares trading on the TSX-V is $0.30 or higher for 20 consecutive trading days, the Company may accelerate the expiry of the Unit Warrants upon written notice to the holders thereof, and all such holders shall have 30 days from the date of such notice being provided to exercise their Unit Warrants. \nAll securities issued under the Private Placement are subject to a four-month hold period expiring on April 19, 2020.  No finder's fees were paid b...