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Finlay Minerals Ltd. Announces the Closing of the Non-Brokered Financings
Finlay Minerals Ltd. Announces the Closing of the Non-Brokered Financings Canada N...
About this update from Finlay Minerals Ltd.
[{"type":"text","content":"\n\n\n\nFinlay Minerals Ltd. Announces the Closing of the Non-Brokered Financings\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, Dec. 19, 2017\n\n\n\nVANCOUVER, Dec. 19, 2017 /CNW/ - Finlay Minerals Ltd. (TSXV: FYL)  (the \"Company\") announces the closing of the non-brokered flow-through (\"FT Financing\") and non-flow-through (\"NFT Financing\") private placement financings today. \n\nA total of 1,275,000 flow-through units at $0.11 per unit were issued for gross proceeds of $140,250 for the FT Financing. Each unit consists of one common share and one-half of one share purchase warrant. \n\nA total of 778,000 non-flow-through units at $0.09 per unit were issued for gross proceeds of $70,020 for the NFT Financing. Each unit consists of one common share and one full share purchase warrant.  \n\nEach whole common share purchase warrant (a \"Warrant\") is exercisable for the purchase of an additional common share on a non-flow-through basis for a term of 48 months at an exercise price of $0.20 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 day at any time beginning April 20, 2018.  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 funds will be used to conduct deep induced polarization (IP) geophysics, deep drilling on its Silver Hope property and for general working capital purposes.\n\nFinder's fees totalling $5,296.20 were paid in regards to these FT and NFT Financings; the finder's fees were paid to PI Financial Corp. and Haywood Securities.  \n\nThe private placement shares, the warrants and any common shares acquired upon exercise of the warrants will be subject to a four-month hold period expiring April 20, 2018.\n\nAbout Finlay Minerals Ltd.\n\nFinlay is a TSX Venture Exchange company focused on expl...