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Finlay Minerals Announces the Closing of Oversubscribed Private Placement Flow-through Financing of $328,039
Finlay Minerals Announces the Closing of Oversubscribed Private Placement Flow-through Fi...
About this update from Finlay Minerals Ltd.
[{"type":"text","content":"\n \n \n \n Finlay Minerals Announces the Closing of Oversubscribed Private Placement Flow-through Financing of $328,039\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 VANCOUVER, BC\n \n ,\n \n Nov. 18, 2021\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 releases dated\n \n October 28, 2021\n \n and\n \n November 8, 2021\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 $328,039.79\n \n (the \"\n \n Private Placement\n \n \").\n \n \n The Private Placement consisted of the issuance of a total of 2,523,383 units (each, a \"\n \n FT Unit\n \n \"), at a price of\n \n $0.13\n \n 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\n \n Income Tax Act\n \n (\n \n Canada\n \n ) and one common share purchase warrant (each, a \"\n \n Unit Warrant\n \n \"). Each Unit Warrant entitles the holder thereof to acquire one additional common share of the Company (each, a \"\n \n Warrant Share\n \n \") at an exercise price of\n \n $0.20\n \n per Warrant Share for a period of two years 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 March 19\n \n , 2022.  In connection with the Private Placement, the Company paid cash finder's fees of\n \n $842.40\n \n to Canaccord Genuity Corp.\n \n \n The Company expects to use the proceeds raised from the Private Placement to continue its work on the Equity East and Allin Zones on its Silver Hope Property - improving road access and conducting in-fill induced polarization geophysics for dr...