Business
Finlay Minerals Ltd. appoints second independent director and a chairman, amends warrants and provides an update on exploration plans for the Silver Hope Property
VANCOUVER, May 10, 2012 /CNW/ - Finlay Minerals Ltd. (TSXV: FYL) (the "Company") reports ...
About this update from Finlay Minerals Ltd.
[{"type":"text","content":"\n\n\n\n\n\nVANCOUVER, May 10, 2012 /CNW/ - Finlay Minerals Ltd. (TSXV: FYL) (the \"Company\") reports on the appointment of Peter F. Tegart as its\n second independent director and John J. Barakso as Chairman of the\n Board.  Additionally, the Company will amend the term of warrants\n coming due on June 3rd and 4th, 2012; and thirdly, the Company provides an update on its exploration\n plans for 2012.\n\n\nThe Board of Directors is pleased to announce the appointment of Peter\n F. Tegart as its second independent director to the Board.  Mr. Tegart\n is a well-known and well-respected geologist and mining executive with\n over 45 years of experience.  He has served as Western Manager for\n Serem Ltd. and Vice President, Exploration for Cheni Gold Mines.  Mr.\n Tegart was also in charge of exploration, feasibility and production of\n the Moris Mine in northern Mexico which is presently in operation by\n Hochschilds of Peru.  Additionally he has been responsible for resource\n definition and feasibility studies of the Lawyers Gold Mine in B.C. and\n the acquisition of Manhattan Minerals Corporation's Tambo Grande\n Project in Northern Peru.  Mr. Tegart served as President and Chief\n Executive Officer for Frontier Pacific Mining Corporation which was\n acquired by Eldorado Gold in 2009 for $200 million USD.\n\n\nThe Board of Directors is also pleased to announce the appointment of\n John J. Barakso, a director and founder of the Company, as Chairman of\n the Board.  Mr. Barakso has and will continue to bring his wealth of\n knowledge in both geochemistry and the Company's individual properties\n to moving the Company forward.\n\n\nThe Company has accepted the resignation of David A. Schwartz as\n Director of the Company effective May 7, 2012 and has appointed him\n Corporate Secretary until the Company's next annual general meeting on\n June 29, 2012 or until his successor is appointed.  Mr. Schwartz will\n continue on in his role as legal counsel to the Company.\n\n\nThe Company reports on its decision to proceed with an amendment to the\n term of 1,125,000 warrants from its private placement announced on\n April 15, 2010:  1,000,000 warrants at an exercise price of $0.25\n coming due on June 3, 2012 will have their term extended from 24 months\n to 36 months; the new expiry date of th...