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Finlay Minerals Ltd. Announces a Non-Brokered Financing to Continue Work on the Newly Discovered Copper-Silver Alkali-Porphyry System on the PIL Property
Finlay Minerals Ltd. Announces a Non-Brokered Financing to Continue Work on the Newly Disc...
About this update from Finlay Minerals Ltd.
[{"type":"text","content":"\n\n\n\nFinlay Minerals Ltd. Announces a Non-Brokered Financing to Continue Work on the Newly Discovered Copper-Silver Alkali-Porphyry System on the PIL Property\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\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, June 21, 2017\n\n\n\nVANCOUVER, June 21, 2017 /CNW/ - Finlay Minerals Ltd. (TSXV: FYL)  (the \"Company\") is pleased to announce a non-brokered private placement of up to $200,000 (the \"Financing\"). The Financing will consist of up to 3,333,333 units. Each unit will consist of one common share at $0.06 and one-half of one share purchase warrant.  Each whole warrant will be exercisable for the purchase of an additional common share for a term of 24 months at an exercise price of $0.10 per common share.  The warrant term will be accelerated upon written notice from the Company, in the event that the common shares of the company close at a price of not less than $0.30 per share for at least 20 consecutive trading days. Upon such notice being provided, the holders of the warrants will have 30 days to exercise the warrants, failing which they will expire and be of no further force or effect. \n\nThe detailed airborne magnetic survey completed last week on the PIL Property (see news release dated June 13, 2017) helped define the scope of the geological and induced polarization geophysics programs planned for the summer of 2017.  The private placement funds will be used for these programs on the PIL Property and for general working capital.\n\nFinder's fees may be paid on portions of the private placement.\n\nThe private placement shares, the warrants, any common 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 that will run from the date of closing.\n\nAbout Finlay Minerals Ltd.\n\nFinlay is a TSX Venture Exchange company focused on exploration for base and precious metal deposits in northern British Columbia. The Company's properties include:\n\n\nthe Silver Hope which includes porphyry copper-molybdenum mineralization discov...