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FINLAY MINERALS ANNOUNCES THE CLOSING OF OVERSUBSCRIBED PRIVATE PLACEMENT FINANCING
FINLAY MINERALS ANNOUNCES THE CLOSING OF OVERSUBSCRIBED PRIVATE PLACEMENT FINANCING Can...
About this update from Finlay Minerals Ltd.
[{"type":"text","content":"\n \n \n \n FINLAY MINERALS ANNOUNCES THE CLOSING OF OVERSUBSCRIBED 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 30, 2023\n \n \n /CNW/ -\n \n Finlay Minerals Ltd.\n \n (TSXV: FYL) (\"\n \n Finlay\n \n \" or the \"\n \n Company\n \n \") is pleased to announce that, further to the Company's news release dated\n \n May 8, 2023\n \n , the Company has closed, subject to receipt of final approval from the TSX Venture Exchange (\"\n \n TSX-V\n \n \"), its private placement financing for total proceeds of\n \n $550,000\n \n (the \"\n \n Private Placement\n \n \").\n \n \n The Private Placement consisted of the issuance of: (i) 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) 7,000,000 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 entitles 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.\n \n \n All securities issued under the Private Placement are subject to a four-month hold period expiring on\n \n September 30, 2023\n \n . The Company paid no finder's fees.\n \n \n The Company expects to use the proceeds raised from t...