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Finlay Minerals Ltd. - $240,000 Private Placement with the MineralFields Group and $25,000 Private Placement Closes
Finlay Minerals Ltd. - $240,000 Private Placement with the MineralFields Group and $25,000 Privat...
About this update from Finlay Minerals Ltd.
[{"type":"text","content":"\n\n\n\n Jun. 7, 2010 (Canada NewsWire Group) -- The Board of Directors of Finlay Minerals Ltd. ("The Company") is pleased to announce the closing of a non-brokered private placement of $240,000 (the "Financing") through the sale of 2 million flow-through units ("FT Units") at $0.12 each to the MineralFields Group. Each FT Unit will consist of 1 common share, and one-half of one non-flow-through share purchase warrant exercisable until June 7, 2012 at an exercise price of $0.25.\nFinder's fees will be paid on the private placement to Limited Market Dealer Inc. consisting of a cash payment of $14,400 and 160,000 Agent's Options exercisable @ $0.12 into units consisting of one non-flow-through common share and one-half (1/2) of one non-flow-through warrant, each whole warrant exercisable into a common share @ $0.25 until June 7, 2012.\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 expiring October 4, 2010.\nThe Company is also pleased to announce the closing of a non-brokered private placement of $25,000 through the sale of 250,000 Units at $0.10 each. Each Unit will consist of 1 common share, and one-half of one share purchase warrant (with a term of 24 months, and an exercise price of $0.20 per share for each whole warrant).\nFinder's fees will be paid on the 250,000 Units private placement to Raymond James Ltd. consisting of a cash payment of $2,000 and 10,000 Agent's Warrant exercisable @ $0.20 per common share until June 4, 2012.\nFunds will be used to conduct CEE eligible exploration on two new zones on the Silver Hope project, in B.C.\n"We are very pleased to be entering into this relationship with the MineralFields Group", said Robert Brown, President and CEO. "This is an important milestone in the growth of Finlay Minerals Ltd. and we look forward to working with MineralFields Group as we develop our Silver Hope Project."\n\nMineralFields Group (a division of Pathway Asset Management), based in Toronto, Vancouver Montreal and Calgary, is a mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada as well as hard-dollar resource limited partners...