Business
Finlay Minerals Ltd. announces the closing of a non-brokered financing
Finlay Minerals Ltd. announces the closing of a non-brokered financing Finlay Mine...
About this update from Finlay Minerals Ltd.
[{"type":"text","content":"\n\n\n\nFinlay Minerals Ltd. announces the closing of a non-brokered financing\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\nFinlay Minerals Ltd. announces the closing of a non-brokered financing\nCanada NewsWire\nVANCOUVER, April 12, 2016\n\n\n\nVANCOUVER, April 12, 2016 /CNW/ - Finlay Minerals Ltd. (TSXV:FYL)  (\"The Company\") \") is pleased to announce the closing of a private placement financing of a total of 5,857,143 units at $0.035 per unit for proceeds of $205,000. Each unit consists of one common share and one-half share purchase warrant.  Each warrant is exercisable until April 12, 2018 at an exercise price of $0.05 per share.  The warrant term will reduce to 30 days on notice that FYL has closed at not less than $0.40 cents for at least 20 consecutive trading days.\n\nThe units will have a four month hold period expiring August 12, 2016.\n\nThe funds will be used for working capital. Related parties to the Company are anticipated to receive payments from the financing for legal fees of $17,000, geological fees of $15,000 and Office administration of $14,400 during the 24 month period after the closing of the private placement financing.\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\nFinlay Minerals Ltd. trades under the symbol \"FYL\" on the TSX Venture Exchange.For further information and details please visit the Company's website at www.finlayminerals.com\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, 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\nJohn J. Barakso,C...