Business
Finlay Minerals Ltd. Announces Financings
VANCOUVER, May 21, 2013 /CNW/ - Finlay Minerals Ltd. (TSXV:FYL) (the "Company") is please...
About this update from Finlay Minerals Ltd.
[{"type":"text","content":"\n\n\n\n\n\nVANCOUVER, May 21, 2013 /CNW/ - Finlay Minerals Ltd. (TSXV:FYL) (the \"Company\") is pleased to announce a flow-through non-brokered\n private placement of up to $100,000 (the \"FT Financing\"). The FT\n Financing will consist of 1,250,000 units. Each flow-through unit would\n consist of 1 common share at $0.08 and one-half (1/2) of one\n non-flow-through share purchase warrant (with a term of 24 months, and\n an exercise price of $0.15); the warrant term will reduce to 30 days on\n notice that FYL has closed at not less than $0.65 cents for at least 20\n consecutive trading days.  The flow-through shares would entitle\n holders to a 100% CEE deduction, as well as 15% federal tax credit, and\n BC 20% tax credit for grass roots exploration.\n\n\nSecondly, the Company is pleased to announce a hard cash non-brokered\n private placement of up to $100,000 (the \"HC Financing\"). The HC\n Financing will consist of 1,666,667 units. Each hard cash unit would\n consist of 1 common share at $0.06 and one-half (1/2) of one\n non-flow-through share purchase warrant (with a term of 24 months, and\n an exercise price of $0.15); the warrant term will reduce to 30 days on\n notice that FYL has closed at not less than $0.65 cents for at least 20\n consecutive trading days.\n\n\nThe private placement shares and any shares acquired upon exercise of\n the warrants will be subject to a four-month hold period.\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 entire property which can then be overlaid on\n the ZTEM survey data helping to define and hone the next set of drill\n 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 ...