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Finlay Minerals Ltd. announces closing of over subscribed financings
VANCOUVER , June 17, 2013 /CNW/ - Finlay Minerals Ltd. (TSXV:FYL) (the "Company") is p...
About this update from Finlay Minerals Ltd.
[{"type":"text","content":"\n\n\nVANCOUVER, June 17, 2013 /CNW/ - Finlay Minerals Ltd. (TSXV:FYL) (the \"Company\") is pleased to announce the closing of a flow-through,\n non-brokered private placement financing through the sale of 1,262,000\n units at $0.08 per unit (FT Financing) for proceeds of $100,960.  Each\n FT unit consists of 1 common share at $0.08 and one-half (1/2) of one\n non-flow-through share purchase warrant. Each warrant is exercisable\n for 24 months at an exercise price of $0.15 per share. The warrant term\n will reduce to 30 days on notice that the Company's shares have closed\n at not less than $0.65 cents for at least 20 consecutive trading days.\n\n\nThe Company is further pleased to announce the closing of a\n non-flow-through, non-brokered private placement financing through the\n sale of 1,713,000 units at $0.06 per unit for proceeds of $102,780 (HC\n Financing).  Each HC unit consists of 1 common share at $0.06 and\n one-half (1/2) of one non-flow-through share purchase warrant. Each\n warrant is exercisable for 24 months at an exercise price of $0.15 per\n share. The warrant term will reduce to 30 days on notice that the\n Company's shares have closed at not less than $0.65 cents for at least\n 20 consecutive trading days.\n\n\nBoth the FT and HC financing units will have a four month hold period\n expiring October 15, 2013.\n\n\nThe flow-through funds will be used for ground survey work of the Silver\n Hope property and specifically, the three new ZTEM-identified targets;\n non-flow through funds will be used for working capital.\n\n\nThe 2012 ZTEM airborne survey of the Silver Hope Property was the first\n property-wide survey conducted.   The next logical exploration step is\n a ground survey of the property which can then be overlaid on the ZTEM\n survey data helping to define and hone the next set of drill targets.\n\n\nAbout Finlay Minerals Ltd.\n\n\nFinlay Minerals is a TSX Venture Exchange company focused on exploration\n for base and precious metal deposits in northern British Columbia. The\n company's flagship property, Silver Hope, includes porphyry\n copper-molybdenum mineralization discovered in 2010, along with three\n silver-copper mineralized zones in a contiguous trend with the mined\n out deposits of the former Equity Silver Mines (71 million oz. silver,\n 185 million lbs. copper and 508,...