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Finlay Minerals Ltd. announces a $225,000 non-brokered financing to drill the Silver Hope
VANCOUVER , Sept. 23, 2014 /CNW/ -  Finlay Minerals Ltd. (TSXV: FYL) (the "Company"...
About this update from Finlay Minerals Ltd.
[{"type":"text","content":"\n\nVANCOUVER, Sept. 23, 2014 /CNW/ - Finlay Minerals Ltd. (TSXV: FYL) (the \"Company\") is pleased to announce a flow-through, non-brokered private placement of up to $175,000 (the \"FT Financing\") which will consist of 2,916,666 units.  Each flow-through unit would consist of 1 common share at $0.06 and one-half share purchase warrant at $0.10.\n\nAdditionally the Company is please to announce a concurrent hard cash (non-flow-through), non-brokered private placement of up to $50,000 (the \"HC Financing\") which will consist of 1,000,000 common shares at $0.05 and one-half share purchase warrant at $0.10.\n\nBoth the FT and HC financing's warrants will be exercisable for a term of 24 months and at an exercise price of $0.10; warrant terms will reduce to 30 days if the Company's shares close on the TSX Venture Exchange four months after the date of issue for 20 consecutive trading days at a price of $0.40 per share or higher during the exercise period.  The Company may accelerate the expiry time to 30 calendar days from the date that express written notice is provided by the Company to the holder by way of registered mail.\n\nFinder's fees may be paid on the private placement.\n\nThe private placement shares, any shares acquired upon exercise of the warrants, and any securities issued in payment of finder's fees will be subject to a four-month hold period.\n\nThe flow-through funds will be used to conduct a 1,200m drill program on the Silver Hope: (CLICK HERE for further details on the Silver Hope Property primary targets.).  The hard cash funds will be used for working capital and administration of the flow-through funds. \n\nAbout Finlay Minerals Ltd.\n\nFinlay Minerals is a TSX Venture Exchange company focused on exploration for base and precious metal deposits in northern British Columbia. The company's flagship property, the Silver Hope, includes porphyry copper-molybdenum mineralization discovered in 2010, along with three silver-copper mineralized zones in a contiguous trend with the mined out deposits of the former Equity Silver Mines (71 million oz. silver, 185 million lbs. copper and 508,000 oz. gold). \n\nOn behalf of the Board of Directors,\n\nRobert F. Brown, P. Eng.President & CEO\n\nNeither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in ...